According to the October CoreLogic QV House Price Index, property values in Wellington City grew by 3.9% over the last three months. This takes the annual rate of capital gain in Wellington City to 9.6% and illustrates a similar trend to the rebound seen last spring, when the annual rate was a slightly higher 10.0%, after recovering from another underwhelming winter for property values.
A shortage of total properties listed for sale remains a constant in the Capital, so properties that are listed for sale are still attracting competitive interest - which is, in turn, seeing an increase in values. Spring has also seen the normal seasonal lift in new listings being added to the market however with a consistently low number of days to sell the impact of new listings is reduced.
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