General Wellington Real Estate Questions

Straight answers to the questions Wellington buyers and sellers both ask us — about RVs, commission, LIMs, method of sale, and how the Wellington market actually works. Based on 17 years and 500+ sales.

What is an RV and how should I use it?

The RV (Rateable Value) is a council valuation used to calculate rates — not a market price. In Wellington it can sit well above or below actual sale prices depending on the suburb and property type.

Use RV as one data point only, not as a target. A property selling at "150% of RV" means very little without knowing what comparable properties actually sold for. Recent sales are the only reliable guide to market value.

Do council rates tell me what a home is worth?

No. Rates are based on council budgets and the rating value — they don't move with the market. A property's rates give you no useful information about what it would sell for today.

Recent comparable sales in the same suburb, from all agencies, are a far better guide. That's what a proper appraisal looks at.

How accurate are online property price estimates?

They're a rough starting point — useful for a ballpark, not for decision-making. In Wellington's hilly, micro-climate suburbs like Karori, Khandallah, and Ngaio, automated estimates regularly miss factors that significantly affect price: sun, aspect, retaining walls, and physical condition.

Always cross-check with recent comparable sales. If you're making a major financial decision, get a proper appraisal from someone who's walked through the property.

What is the difference between a LIM and a builder's report?

They cover completely different things — and you need both.

A LIM is a council document covering consents, drainage, hazards, and recorded property history. It tells you what the council knows about the property and the land.

A builder's report is an independent assessment of the physical condition of the building — structure, roof, cladding, plumbing, and moisture. It tells you what a qualified inspector can see on the day.

In Wellington, the LIM is particularly important for identifying retaining wall issues, slippage risk, and unconsented work. Don't skip it.

How do agent commissions work in New Zealand?

Commission in New Zealand is negotiated between the vendor and the agent — it's not fixed by law. You only pay when the sale is completed. Commission typically covers marketing advice, campaign management, buyer management, negotiation, and coordination through to settlement.

Always ask what is included and get the full cost — commission plus marketing expenses — in writing before signing anything. Some agents quote a low rate and charge marketing separately.

What is the best method of sale in Wellington?

The right method depends on the property and current demand — but tender is the most common in Wellington's suburban residential market and suits most situations. It creates competition between buyers without requiring unconditional offers, which is important because most Wellington buyers need finance and due diligence conditions.

Deadline sale offers more flexibility. Auction is less common here than in Auckland. An advertised price suits properties where comparable sales make the value clear and established.

What adds the most value before selling?

Warm, dry, light, and tidy. In Wellington, sun is a premium — if your property gets afternoon sun, show it off. Focus on paint touch-ups, lighting improvements, storage solutions, garden tidying, and fixing any visible moisture signs.

These consistently outperform expensive renovations in terms of return at sale. A rushed renovation raises more questions than it answers — buyers wonder what's been covered up.

How long does a sale usually take in Wellington?

A standard campaign runs 2–3 weeks to the tender or deadline date. Settlement follows 4–6 weeks after that. Total time from listing to handing over the keys is typically 6–9 weeks for a well-prepared, well-priced property.

What extends this: overpricing, underprepared properties, or conditions that take longer to satisfy. Getting both the price and the preparation right from the start is almost always faster than adjusting mid-campaign.

Can I sell or buy a home with unconsented work?

Often yes. Unconsented work is common in Wellington's older housing stock — decks, sleepouts, and garage conversions are the most frequent. The key considerations are disclosure, whether the work can be consented retrospectively, and whether the price reflects the risk.

Sellers must disclose known unconsented work. Buyers should factor it into their due diligence and check with their lender — some banks have specific requirements around unconsented structures.

What is the best way to stand out as a buyer?

Get your finance pre-approved before you start making offers. Do your due diligence — building report, LIM, solicitor review — during the marketing period, not after the tender date. Make a clean offer with a short conditions timeframe where possible.

In Wellington's tender market, prepared buyers consistently outperform buyers who are still getting their ducks in a row when the deadline arrives. Also useful: Seller FAQs | Buyer FAQs | Selling in Wellington

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