Wellington City property values fall by average of 24.4 per cent

Tuesday 4 February 2025 · 6 outlets · 5 reports · updated Tue 4 Feb 2025, 4:35pm

Official valuations recorded on 1 September 2024 show average Wellington house values have dropped 24.4% since 2021. Capital values decreased across every suburb, with the average house now valued at $1.08 million. Property owners will receive these new ratings valuations shortly, though lower values do not guarantee a reduction in rates.

How they headlined it

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1. NZ HeraldTue 4 Feb 2025, 2:02pm

   Wellington City property valuations plummet 24%, no suburb unscathed (opens in new tab)

2. RNZTue 4 Feb 2025, 2:05pm

   Average Wellington house prices plummet nearly 25 percent in latest official valuations (opens in new tab)

3. The Press via The PostTue 4 Feb 2025, 2:32pm

   Winners and losers in Wellington rates values as houses plummet by 24.4% (opens in new tab)

   Also on The Post (opens in new tab)

4. Otago Daily TimesTue 4 Feb 2025, 2:48pm

   Wellington house prices plummet nearly 25% (opens in new tab)

5. StuffTue 4 Feb 2025, 4:35pm

   Wellington homeowners should not get their hopes up: lower RV does not mean lower rates (opens in new tab)