News

Wellington Market Update | October 2025

As summer edges closer and interest rates ease, signs are pointing to a sunnier outlook for Wellington’s property market. Tommy’s top agents Chris Robinson and Alexia Stoddart report seeing a positive shift in not only the number of viewers at individual properties, but also the number of offers they’re seeing against those properties. 

Alexia says, “it feels very positive. We have good turnouts to open homes and are achieving multiple offers well above the buyer enquiry on some properties. And with first-home buyers having their bank pre-approvals done, there are cash buyers.” 

Alexia went on to add, “first-home buyers are certainly the strongest in the market as they are cash-ready and fit into the price bracket just over $1 million”. Chris agrees the first-home market segment is busy but adds: “they are very cautious on where and what they buy.”

Both Chris and Alexia believe vendors have adjusted their price expectations to meet the market. “I think vendors appreciate that when the market was getting record high prices, it couldn’t and shouldn’t last – so they accept their property is worth its value in this current market,” Alexia says. 

She went on to explain Wellington had the biggest increase in property prices so inevitably had to have the biggest fall, but believes this now in the rearview mirror. “We have vendors who are very happy with the price we are achieving for their homes. We don’t see there being any further decrease in property values so now is a great time to jump into the market,” Alexia says. 

With school holidays now wrapped up and Summer fast approaching, Chris expects to see a slight rise in properties coming to market. 

“The buyers are there and they are keen to buy good homes. We are receiving multiple offers on well presented properties in good locations. Vendors are committed to presenting homes well to give them the best chance to secure the best price,” says Chris. 

Alexia added, “certain suburbs can be a factor in what people buy, as they may go for a townhouse in a desirable suburb to get on the ladder and then get the flat lawn in the next move.”

She explained the government’s relaxation of earthquake strengthening rules in conjunction with the lowering of the Official Cash Rate will help to lift the apartment market.

Chris agreed, adding, “it helps build confidence that buyers can buy and be able to afford the home in years to come, so it’s encouraging buyers to invest.” 

As we head into the warmer months, Alexia says the sense of momentum is only growing. “We have buyers ready to go who are asking if more property will be coming to market soon, as they want to be in a home for Christmas.”

With daylight saving in full swing, she adds, “it’s always good to see a house with more daylight hours.”

For Wellington’s property market, that brighter outlook feels fitting – summer is on its way, and confidence is coming with it.