The Cost Of A Housing Property For Sale In Wellington
Selecting a perfect place where one can get a housing property is
, indeed, a crucial decision. Important considerations must be kept in mind to avoid regrets. And before signing any contract on a property for sale in Wellington, it is essential to get to know your target areas background, including housing prices.
Wellington, Capital of New Zealand
Anybody looking for a property for sale in Wellington will have plenty of choices, given that it is the capital city of New Zealand. Wellington is located at the southern area of North Island between harbor and hills. It is the seat of national government and culture, and the third most highly populated city across the nation.
It boasts of long lines of museums, theaters and festivals, including the Museum of New Zealand, the Royal New Zealand Ballet and the Festival of Arts, which is celebrated every two years. Furthermore, it is home to many creatives industries, and is where the New Zealand Stock Exchange is located. Amidst industrialization, the city natures beauty still surrounds the city. Less than an hour away from the CBD (central business district) is where an acclaimed eco-attraction named Zealandia stands.
Wellington Neighborhoods at a Glance
Neighborhoods in Wellington offer varied types of both residential and commercial property for sale. For example, Courtenay Place is the countrys theatrical activity hub that houses many restaurants, cafe and pubs offering ethnic-flavored menus. Cuba Street and Manners Mall are both young peoples havens, and are home to the Fringe Festival and Wellington Festival of Arts, where innovative sculptures and water features conveying creativity are found.
Oriental Bay is home to Victorian villas nestled on Mt. Victoria, with an amusing landscape, cable cars and a fantastic view of the city at Southern Walkway. Thorndon is a historical high-class community rich in architectural and cultural attractions, while fine colonial cottages are seen here as well, including architectural on Tinakori Road. Eastbourne, another neighborhood in the city, is a waterside settlement that can be reached on board a ferry and a popular summer destination, with reserves and walk areas.
Cost of Housing in Wellington
According to the Real Estate Institute of New Zealand or REINZ, Wellington house prices have remained steady these past four years. Similar to 2008 levels, the 12-month median price as of May 2012 was around $380,000 with house values that are lower by 6% than their cost in 2007, which is considered the markets peak.
The highest average sale price of $575,000 is common among houses in the Western Suburbs, including the Southern, Western, North and Eastern areas, while North Wellington has an average sale price of $438,367. It is the only area with an average sale price that is lower than $500,000. Buyers have been noted to be a bit cautious because of the possibilities of public service cuts.
After knowing all the important housing property details of Wellington, the final decision is in the hands of the buyer. From the choices presented, one can pick which area fits ones lifestyle and budget best, whether they are looking for residential, commercial, urban or rural property for sale in the city.
by: Duane Hope
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