REINZ September 2025 Market Report: Wellington

Wellington Property Market Update – September 2025

The Wellington property market continued to balance in September 2025, with modest price movement and a steady rise in sales activity across most districts.

Key Highlights

• Median price: $760,000 (↓ 3.2% year-on-year | ↑ 2.7% month-on-month)

• Sales count: 585 (↑ 7.5% year-on-year | ↑ 9.6% month-on-month)

• Median days to sell: 49 days – 2 days quicker than September 24

Market Insights

“First-home buyers were the most active buyer group, with reports of fewer investors present. Some vendors were starting to push for higher prices due to the time of year, which made their expectations unrealistic. Attendance at open homes has been strong for newly listed properties but tends to decline after the initial viewings. Market sentiment is being shaped by the growing number of townhouse developments and the rising volume of property listings, many of which are not attracting the anticipated interest. Local salespeople remain hopeful that stock levels will decrease, but the primary challenge for buyers continues to be cash flow constraints. This dynamic is expected to influence market activity in the coming months.”— Lizzy Ryley, REINZ Chief Executive

District Trends

District	Median Price (Sep 25)	Change vs Aug 25	Change vs Sep 24	Sales (Sep 25)	Change vs Aug 25	Change vs Sep 24
Carterton District	$548,000	+7.5%	-0.4%	12	0.0%	-7.7%
Kapiti Coast District	$729,000	-5.0%	-8.4%	58	-18.3%	-33.3%
Lower Hutt City	$680,000	-5.2%	+0.7%	123	-1.6%	+18.3%
Masterton District	$558,000	+4.9%	+9.4%	54	+54.3%	+50.0%
Porirua City	$850,000	+18.1%	+16.4%	46	0.0%	+12.2%
South Wairarapa District	$599,000	-2.6%	+16.3%	10	+11.1%	-16.7%
Upper Hutt City	$695,000	+3.6%	-13.4%	67	+31.4%	+13.6%
Wellington City	$868,000	+4.4%	-3.4%	215	+16.2%	+12.0%
Wellington Region (Overall)	$760,000	+2.7%	-3.2%	585	+9.6%	+7.5%

What It Means for Buyers and Sellers

• Buyers: First-home buyers remain the most active group, benefiting from stabilised prices and more listings to choose from.

• Sellers: Well-presented and realistically priced properties continue to attract strong initial interest, particularly in Porirua and Masterton, where prices saw notable gains.

• Investors: Investor activity remains subdued, with many focusing on yield and cash flow amid tighter lending conditions.

The Wellington market remains steady but selective. A combination of rising listings and cautious buyer sentiment is keeping conditions balanced. As spring continues and borrowing costs ease, sales activity is expected to remain firm — particularly in suburbs offering affordability and strong commuter access.