PHOTO: ROSS GIBLIN/STUFF – The Wellington suburbs of Broadmeadows, Khandallah, Northland, Hataitai, Thorndon, Te Aro and Mount Victoria have all joined the million-dollar club, with average house values now exceeding six-figures.
Wellington house values have rocketed up nearly 50 per cent over the past three years.
New property valuations for the capital show nine suburbs now have an average residential property value of more than $1 million, with some of the sharpest hikes in value occuring in suburbs once considered affordable.
The latest release of council valuations, produced by QV every three years, shows residential house prices have jumped an average 44.6 per cent.
The average house value in the capital is now $877,000 while land value is $476,000 – a 77 per cent rise.
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