What the Wellington Property Market Could Look Like in 2026
I’m often asked where I think the Wellington property market is heading, particularly by people trying to decide whether they should sell now or wait for a price recovery. While this question is most relevant for those looking to exit the market, the majority of our clients are actually focused on upsizing or downsizing within Wellington.
Overall, I think the market will feel steadier than it has in quite some time. After several years of adjustment following the boom, vendors are becoming more realistic around pricing, and we’re seeing transaction volumes gradually increase year on year. Interest rate reductions have played a role in this shift, although they don’t influence buyer behaviour as much as many expect. That said, cheaper lending does help underpin confidence, and confidence is always important in a housing market.
With a general election coming up next year, it’s natural for buyers and sellers alike to pause while waiting for clarity around housing policy and the wider economy. In Wellington specifically, the current government’s public sector job cuts have had a noticeable impact on buyer sentiment. Throughout 2025, job security has been a dominant topic of conversation, and this has reduced buyers’ willingness to compete aggressively in tenders and auctions.
From a pricing perspective, I don’t expect anything dramatic. Well-presented homes that are priced realistically continue to sell well and, in some cases, attract multiple offers. Properties that miss the mark on presentation or price, however, are taking longer to sell.
In short, 2026 is shaping up to be a more balanced and predictable market. Let’s see how it goes….
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