Wellington Property Auction Results: 76% Clearance Rate

Three Wellington homes sold above their advertised reserves during auctions held on 4 and 5 July, with the overall clearance rate reaching 76 percent from 21 listings. One four-bedroom house on The Terrace fetched $2.15 million, $185,000 over its reserve. Another on Aro Street in Te Aro went for $1.68 million, $120,000 above its guide.

These results arrive after the Reserve Bank cut the official cash rate by 25 basis points on 25 June. Local agents report more registered bidders per auction than in the same weekend last year, when only 14 of 19 listings cleared.

Standout sales occurred near the Basin Reserve and in the Brooklyn suburb. A two-storey weatherboard on Rugby Street, listed through the Wellington Property Investors Association network, drew eight bidders and finished $95,000 above reserve. In Brooklyn, a three-bedroom townhouse on Cleveland Street sold for $1.42 million after a 12-minute bidding war. Both sales occurred within walking distance of the Wellington City Council’s new cycleway extension completed in May.

Clearance data and price points

Figures compiled by the Real Estate Institute of Wellington show 16 of the 21 properties found buyers. The median auction price reached $1.51 million, up $110,000 from the June average. Four properties in the $1.8 million to $2.2 million bracket all exceeded reserve, while two listings in the $950,000 range passed in.

Buyers at the Aro Street auction included a first-home buyer couple who had pre-approved finance through a local credit union. The Te Aro result marked the suburb’s highest auction price since March 2025.

Next steps for buyers and sellers

Agents advise vendors to review reserves before the next auction round scheduled for 18 July. Prospective buyers should register early for inspections at upcoming open homes on Ghuznee Street and in Hataitai, where four listings are already confirmed. Those tracking clearance trends can access weekly updates through the institute’s online portal released each Monday.