The Kāpiti Coast continues to showcase a dynamic real estate market as we approach the end of 2024. For buyers, sellers, and observers alike, the latest data reveals notable shifts across sales volumes, prices, and days to sell. Here’s a breakdown of the key trends shaping the region.
Steady Growth in Sales
The period from August to October saw a significant rise in sales, jumping 33% from 102 properties sold in August to 136 in October. This upward trajectory was driven largely by activity in Otaihanga/Paraparaumu, where sales doubled from 39 to 80 during this time.
Price Movements Across the Region
While the average property price across the Kāpiti Coast hovered between $840,000 and $850,000, individual areas experienced marked fluctuations:
Otaki/Te Horo faced a sharp drop in October, with prices averaging $598,500.
Raumati/Paekakariki recovered strongly, reaching $1,046,100 on average.
Otaihanga/Paraparaumu continued to thrive, reflecting strong buyer demand and competitive pricing.
Selling Times: A Mixed Picture
Properties took slightly longer to sell on average in September (90 days) but showed improvement in October (83 days).
Peka Peka/Waikanae experienced a slowdown, with days to sell increasing steadily from 58 in August to 99 in October.
Raumati/Paekakariki, meanwhile, witnessed faster turnover in October (68 days) after slower performance in earlier months.
Hot Markets to Watch
Otaihanga/Paraparaumu: With robust sales and rising prices, this area remains a standout for sellers looking to maximise returns.
Raumati/Paekakariki: Renewed interest in premium properties makes this another area to monitor.
What This Means for Buyers and Sellers
For sellers, the strong demand in areas like Otaihanga/Paraparaumu suggests an ideal time to list properties. Conversely, buyers may find attractive opportunities in markets such as Otaki/Te Horo, where prices have softened.
Wider Market Context
The Kāpiti Coast trends align with broader observations across the Wellington region. Wellington’s median price increased 0.6% year-on-year to $795,000, with first-home buyers remaining the most active group. However, vendors have maintained realistic expectations, even as interest rates begin to ease.
As we move into summer, local agents remain cautiously optimistic. Improved weather, new listings, and potential interest rate drops could further boost activity in the months ahead.
Whether you're looking to buy, sell, or simply better understand the market, staying informed is crucial. Reach out to discuss how these trends could influence your property plans.
For additional insights or personalised advice, contact me today. Let’s work together to make the most of Kāpiti’s evolving market.
Have you considered buying or selling a property? Or do you know of a family member, friend or colleague who is considering buying or selling a property? Contact Charlie Goodyer to experience next level service.
