First-home buyers make up nearly a third of all sales in Wellington as prices surge ahead

• Wellington’s first-home buyers are making up a record third of all sales as the average price surges to $582,322.

The latest QV House Price Index shows prices rose 20.6 per cent in the Wellington region over the past 12 months, compared with a more subdued national increase of 13.5 per cent to an average of $631,302.

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This house in Lowry Bay, Lower Hutt, fetched $3 million – tying for the most expensive home sold in greater Wellington in 2016.