REINZ September 2026 Market Report: Wellington
The Wellington property market remained steady in September 2026, with encouraging signs emerging despite softer annual price and sales figures. First-home buyers continued to be the most active group, while stronger open-home attendance and increased appraisal activity suggested improving confidence heading into the summer months. Although buyers remained cautious ahead of the general election, local salespeople are optimistic that market activity could lift in the coming months.
Key Highlights
Median Price
$745,000 (↓ 2.0% year-on-year | ↑ 4.9% month-on-month)
Sales Count
513 sales (↓ 14.8% year-on-year | ↑ 9.1% month-on-month)
Days to Sell
52 days - 11 days slower than September 2025 and the highest September median days to sell since 2022.
Market Insights
"First-home buyers were the most active buyer group in September, while investor activity remained limited. Vendor expectations were generally aligned with market conditions. Open home attendance strengthened, with some properties attracting particularly high numbers of prospective buyers. Encouraging signs emerged through stronger open-home attendance and increased appraisal activity, while overall market sentiment remained steady and the lead-up to the general election continued to influence decisions. Local salespeople are cautiously optimistic that activity may lift as the market moves into summer." - Lizzy Ryley, REINZ Chief Executive
District Trends
District | Median Price (Sep 26) | Change vs Aug 26 | Change vs Sep 25 | Sales (Sep 26) | Change vs Aug 26 | Change vs Sep 25 |
Carterton District | $565,000 | 0.0% | ↑ 3.1% | 14 | ↑ 40.0% | ↑ 16.7% |
Kapiti Coast District | $800,000 | ↑ 13.5% | ↑ 9.7% | 72 | ↑ 14.3% | ↑ 12.5% |
Lower Hutt City | $715,000 | ↑ 3.6% | ↑ 5.1% | 103 | ↑ 17.0% | ↓ 17.6% |
Masterton District | $515,000 | ↓ 2.4% | ↓ 7.7% | 33 | ↓ 2.9% | ↓ 37.7% |
Porirua City | $725,000 | ↓ 0.7% | ↓ 15.7% | 48 | ↑ 17.1% | 0.0% |
South Wairarapa District | $660,000 | ↑ 1.5% | ↑ 11.1% | 10 | ↓ 37.5% | ↓ 9.1% |
Upper Hutt City | $672,127 | ↓ 1.2% | ↓ 0.4% | 41 | ↓ 29.3% | ↓ 37.9% |
Wellington City | $821,000 | ↑ 1.6% | ↓ 5.7% | 192 | ↑ 20.0% | ↓ 13.9% |
Wellington Region | $745,000 | ↑ 4.9% | ↓ 2.0% | 513 | ↑ 9.1% | ↓ 14.8% |
Source: REINZ September 2026 Property Report.
What It Means for Buyers and Sellers
Buyers
Conditions remain favourable for buyers, with a good range of listings available and vendor expectations generally aligned with market conditions. First-home buyers remain particularly active and may find opportunities in a market where prices have softened slightly from a year ago.
Sellers
While achieving a sale may take longer than in previous years, increased open-home attendance and appraisal activity are positive indicators. Well-presented and appropriately priced properties are continuing to attract buyer interest.
Investors
Investor activity remains relatively subdued, but improving market confidence and stabilising prices may create opportunities for those taking a longer-term view. Any uplift in activity over summer could further improve sentiment.
Conclusion
The Wellington property market continues to operate at a measured pace, with annual sales volumes and prices below last year's levels. However, the strong monthly increase in median prices, improving open-home attendance, and growing appraisal activity suggest confidence may be gradually returning. With summer approaching and local agents cautiously optimistic, Wellington could be well positioned for improved market activity heading into 2027.
Whether you're buying, selling, or investing, understanding current local market conditions is essential. Staying informed can help you make the most of opportunities as they emerge across the Wellington region.
