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29 May 2022 14:36
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  •   Home > News > Local Politics

    Wellington's Mayor says he wonders if runaway housing prices may start slowing

    Wellington's Mayor says he wonders if runaway housing prices may start slowing


    Rating valuations have been released for the first time since 2018.

    In the past three years the average Wellington city house has gone up sixty-point-four percent ... to more than one-point-four million dollars.

    All the capital's suburb now average above one-million dollars ... and land values citywide have more than doubled

    Andy Foster says it's making it even harder to get on the property ladder.

    Foster says he's interested to see the effects of rising interests rates and lower migration on the market.

    © 2022 Newstalk ZB, NZCity

     Other Local Politics News
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     11 May: Christchurch councillors could be forced to rethink costs for the city's new stadium, with the project believed to be at least 50 million dollars over budget
     03 May: Research from Auckland Council shows intensification isn't just something happening close to the central city
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