Wellington City Real Estate Update
August has seen a 21.5% year-on-year increase in median house prices, bringing this number to $875,000. Despite a low level of stock and restrictions throughout Covid-19 Alert Level 4, the number of online enquiries increased as buyers had more time to search listed properties. Although enquiry levels have been up, sales reached their lowest level for the month of August since 2010. As alert level restrictions ease and we move into spring, we expect to see an increase of activity within the market.
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