- Wellington has taken Auckland’s crown as the country’s hottest housing market, and outranked it on a list of the world’s fastest growing cities for house prices.
According to Knight Frank, a global property consultancy, Wellington house prices in the September quarter soared 17 per cent on the same period last year, compared to Auckland’s 15 per cent.
The agency’s global residential cities Index tracks house prices every quarter across 150 cities worldwide.
In overtaking Auckland, Wellington took a title the City of Sails held for eight years.
It was also listed as 16th on the list for annual house price gains, just below Norway’s Oslo and Canada’s Victoria, and just above the burgeoning Turkish metropolis of Istanbul.