Te Whanganui-a-Tara is an amazing place to live, work and play. Rental properties in Wellington are always in high demand, though there are some suburbs that are more desirable than others.
We explore some of the suburbs you may want to consider learning more about before purchasing an investment property in Wellington.
Top Suburbs for Your Investment Property in Wellington
When purchasing an investment property in Wellington, due diligence is key. You’ll need to do of research around a suburb’s popularity with tenants, local amenities, ROI and transport. To give you a head start, we’ve made a list of popular suburbs and what people like about them:
CBD – apartments in the CBD are actively sought after by professionals for use when they are in town. Proximity to the business hub is important to many tenants, as is having the ability to rent a fully furnished apartment for either a long or short term.
Oriental Parade – a favourite with locals and visitors, Oriental Parade not only is close to the city, but has easy access to its own beach, swimming pool, cafes and restaurants, as well as some amazing waterfront walks. Apartments here often have a harbour view, which increases their appeal to tenants.
Te Aro – located just out of the CBD, Te Aro attracts both students and professionals who want the convenience of being close to the city without the hustle and bustle of the CBD. Easy access to all areas of the capital is a big plus.
Island Bay – another coastal Wellington suburb, Island Bay is only 5km from the city and has great public transport options. There’s plenty to do here, with scuba diving and snorkelling, a marine education centre, great cafes and restaurants and easy beach access.
As well as the suburb location, other key things to research when choosing an investment property are tenant demographics, average rents, property price growth, proximity to local amenities and property size. We find that high quality and fully furnished apartments and townhouses in Wellington are always in high demand. If you are interested in outsourcing the management of your investment property, we’d love to hear from you. Get in touch with our team today for a complimentary rent appraisal.