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29 Jan 2022 0:41
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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
     28 Jan: A Wellington city councillor wants plans to borrow more money to cover a three million dollar error, scrapped
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     26 Jan: Labour councillor Efeso Collins has confirmed he's standing for the Auckland mayoralty
     19 Jan: From the city bar, to the council boardroom
     14 Jan: The opposition continues to the Three Waters reforms, which would see management of water assets taken from councils and handed to four publicly-owned companies
     10 Jan: At least 19 people killed in apartment building fire in New York City
     02 Jan: She's going again - with the incumbent Grey District mayor putting her name forward for a second term
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