PHOTO: A KiwiBuild home in Wanaka. Photo: RNZ / Tess Brunton
It was to be a transformational government that promised to address ballooning house prices and help buyers get a step on the ladder.
But has anything changed during the Labour coalition government’s term?
It was advertised as the “worst house on the street”.
Sold as is, where is – a decaying 1920s railway cottage in the heritage area of the Wellington suburb of Ngaio.
There is no insurance, the construction materials may have been asbestos and it needs a lot of work.
It went for $700,000.
Real estate agents are reporting hundreds of people turning up to house viewings, record low listings and multiple offers on properties that would usually get just a few.
Real estate agent Nicki Cruickshank says there is a desperate lack of property supply in Wellington. Photo: RNZ / Eva Corlett
Across the city, in Brooklyn, Tommy’s Real Estate agent Nicki Cruickshank, takes me through a development of 42 new units.
The two and three bedroom units all sold off the plans for roughly $695,000 a couple of years ago. They can now resell for roughly $900,000 each.
Cruickshank said there is a desperate lack of supply in Wellington.
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