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Wellington Housing Shortage 2026: More Eyes on Fewer Homes – What It Means Now

Jan 23

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Night view from Korokoro across Wellington Harbour to the city lights — the kind of outlook that makes desirable homes even more competitive in today’s short-stock market.
Night view from Korokoro across Wellington Harbour to the city lights — the kind of outlook that makes desirable homes even more competitive in today’s short-stock market.

Wellington’s stock levels are still tight heading into 2026.


Booms and busts come and go, but what matters right now is simple supply and demand.


With fewer homes on the market than buyers want, competition stays high — more eyes chasing every good listing.


That can mean stronger results for well-prepared sellers who price realistically and present their home properly.


It also means buyers need to move decisively — pre-approval, quick decisions, realistic expectations.


For sellers: Early prep (staging, minor fixes, professional photos) can make a big difference when stock is low.


For buyers: Patience and strategy matter more than ever.


If you're wondering how this plays out for your suburb (Karori, Ngaio, Johnsonville, Churton Park, Khandallah, Newlands, Paparangi or nearby), or what a realistic plan looks like for you right now:


Get in touch for advice and a free property appraisal.

leonieandsteve@harcourts.co.nz | 027 518 0008


No sales pitch, no fuss — just straight service.


Liked this? Read more Wellington market tips on our blog.


(Updated January 2026 – based on current REINZ and local listing trends.)

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Leonie & Steve Real Estate — Harcourts Wellington

2 Ganges Road, Khandallah 6035, Wellington, New Zealand

+64 27 518 0008 · leonieandsteve@harcourts.co.nz

leonieandsteve.com