FREQUENTLY ASKED QUESTIONS.
Here are the questions I get asked most often by buyers and sellers in Wellington right now, answered as plainly as I can.
Is now a good time to buy in Wellington?
For buyers, current conditions are about as favourable as they've been in several years — plenty of stock, realistic vendors, and prices sitting well below the 2022 peak. If you're financially ready and plan to hold for the medium-to-long term, the current buyers' market gives you real room to negotiate.
Is now a good time to sell?
It can be, provided your expectations are realistic. Homes are taking longer to sell (44–46 days on average, compared with a historical average closer to 35), so pricing correctly from day one and presenting your home well matters more than ever. Well-priced homes are still selling.
How long does it typically take to sell a house in Wellington?
The current median time on market is around 44 to 46 days, though this varies significantly by suburb, price point, and how the property is presented and priced.
What's the difference between auction, tender, and negotiation?
Auction is a competitive, unconditional public sale to the highest bidder. Tender (or deadline sale) asks buyers to submit their best written offer, often with conditions, by a set date. Negotiation is a more traditional back-and-forth process, generally better suited to buyers who need finance or inspection conditions.
How much deposit do I need to buy?
For a standard purchase, you'll typically need a 10% deposit once your offer goes unconditional. Separately, your bank will usually want at least a 20% deposit for a standard home loan, though First Home Loan borrowers can qualify with as little as 5% if they meet the eligibility criteria.
Can first-home buyers still get government help?
The First Home Grant closed in May 2024 and is no longer available, but the Kāinga Ora First Home Loan (from a 5% deposit) is still running for eligible buyers, and KiwiSaver first-home withdrawal remains available if you've been a member for three or more years.
What's the bright-line test and does it affect me?
It's a tax rule that can treat profit from selling residential property within a set period as taxable income. For most property bought after 1 July 2024, that period is now two years. If you bought between March 2021 and June 2024, the older 10-year rule may still apply to that property — worth checking with your accountant.
Do I need a building report when buying?
It's not legally required, but I'd strongly recommend it. A pre-purchase building report, alongside a LIM report and title search, is standard due diligence and can save you from expensive surprises after settlement.
What are Healthy Homes Standards and do they apply to me?
They're five minimum standards — heating, insulation, ventilation, moisture and drainage, and draught stopping — that every rental property in New Zealand must now meet at all times. They apply to landlords, not owner-occupiers, but they're an important cost and compliance factor if you're considering an investment purchase.
How are interest rates affecting the market right now?
The Reserve Bank lifted the Official Cash Rate to 2.50% in mid-2026 — its first increase in three years — after a period of rapid cuts. Fixed mortgage rates currently sit roughly between 3.5% and 6% depending on term and lender. Rates remain a key factor buyers are watching closely when deciding how much they can comfortably borrow.
Which suburb should I buy in?
That really depends on your budget and priorities — Wellington's suburb prices range from around $413,000 in Wellington Central to $1.64 million in Seatoun, with very different character, commute times, and growth prospects in between. I'm always happy to talk through which areas suit your budget and lifestyle.
Got a question about your own situation? I'm always happy to talk it through — no obligation, just straight answers.