Tony Alexander
PHOTO: Economist Tony Alexander says Wellington house price growth is out of whack with the rest of the country. Photo / Fiona Goodall

According to ONEROOF house price growth in Wellington has slowed dramatically in the past six months, and it’s likely the capital will be the first major Kiwi city to suffer a market slump.

Figures from OneRoof’s data partner Valocity shows house price growth in Wellington fell from almost 7% at the end of June to just under 4% by the end of December.

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By contrast, Auckland’s average property value rose two percentage points over the same period, while Christchurch’s climbed one point, from 7% to 8%.

Although Wellington’s average property value jumped 23% ($240,000) in the last 12 months to $1.286 million, much of that growth was in the first half of the year.

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