Property Market
5 min read
What's happening with Lower Hutt house prices?
Council area of Wellington
Author: Ed McKnight
Our Resident Economist, with a GradDipEcon and over five years at Opes Partners, is a trusted contributor to NZ Property Investor, Informed Investor, Stuff, Business Desk, and OneRoof.
Reviewed by: Laine Moger
Journalist and Property Educator with six years of experience, holds a Bachelor of Communication (Honours) from Massey University.
What's happening to Lower Hutt house prices?
The average price of a Lower Hutt property is $ (CoreLogic, February 2025).
Quick Facts
- The average price of a Lower Hutt property is $ (CoreLogic, February 2025)
- Over the last 3 months property prices in Lower Hutt have gone up 2.44%
- Lower Hutt property prices increased 5.66% per year (on average) in the 20 years between February 2005 - February 2025 (REINZ)
- The average rent in Lower Hutt is $625 per week (Tenancy Services, November 2024)
How are Lower Hutt property prices changing?
Lower Hutt house prices soared after the Covid-19 pandemic began. House prices started out 37% below the eventual peak of the market.
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Where is Lower Hutt in its property cycle?
At the absolute bottom of its property cycle, Lower Hutt was 18.51% undervalued.
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Lower Hutt suburb prices
I track the value of 28 suburbs in Lower Hutt. The most expensive suburb is Woburn, which has an average house value of $1,133,300. While the most affordable suburb is Taita, which has an average house value of $604,400.
Over the last 24 months of all Lower Hutt suburbs (February 2023 - February 2025, Wainuiomata had the fastest-growing house prices. They have gone up 2.07% over that period.
The suburb that fell the fastest over that period was Korokoro. Property values in this suburb fell by 8.47% over those 2 years.
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What is the Lower Hutt rental market like?
Here's how rents are changing in Lower Hutt. Over the last four years (November 2020 - November 2024) the median rent has gone up $100 a week. That's 4.46% a year (on average).
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Are properties selling above or below CV in Lower Hutt?
One of the most common questions I get asked is: “Ed, are properties selling above or below their Capital Value (CV)?”
Where do house prices grow the fastest in the Lower Hutt property market?
Where do house prices go up the fastest in Lower Hutt?
Which suburbs in the Lower Hutt property market have the highest yields?
Gross yields vary widely depending on which suburb you chose to investigate.
Other property markets to look into
If you found this article useful, then you might also like our analyses on the other property markets in New Zealand. You can read all about the Wellington property market here.