Te Aro
Downtown Wellington City apartment life
Overview
Te Aro is the beating heart of downtown Wellington. Apartment living took off in the 1990s and this relatively compact city area is now home to approximately 10,000 people. The 18 to 34 age brackets dominate, but there are increasing numbers of mature adults and retiree’s, who prefer city life here to that of the suburbs. There’s lots going on; from cafés to art galleries, restaurants, theatre, bookshops, and retro clothing stores. If you need to get away from the city crowds it’s less than a 10 minute walk to the Wellington waterfront. Here you’ll find plenty of room to walk, jog, cycle, kayak, or just hang out with friends at Waitangi Park.
Best Suited To
Art and culture lovers, coffee addicts, garden haters
Population Profile
Te Aro is home to a huge variety of Wellingtonians. Over a third of Te Aro residents were born overseas. The central city is young at heart and census statistics show that 70% of Te Aro residents are aged between 18 and 34. Having said this, there is steady growth in the 35 to 69 year age group too. Many of these adults have decided that a garden in the suburbs is no longer their dream, preferring to downsize into an apartment and have the city amenities on their doorstep.
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Te Aro residents are well educated with bachelor or higher degrees in the creative arts, management, IT, and the hospitality industry. Many that live here are employed in businesses that help the city thrive, including retail, accommodation, and food services. It’s not surprising that almost 60% walk to work each day – considerably higher than the Wellington average of just 17%.
Typical Homes
It was the stock market crash of 1987 that kicked off apartment living in Te Aro and Wellington Central. Developers began to convert vacant commercial buildings for residential use. Into the mid 1990s it became evident that city living was here to stay, and new apartment blocks began to rise on land previously occupied by warehouse buildings or parking lots. This development continues today, although land has become much harder to find. Fluctuations in the market and in immigration levels have caused demand to waver at times, but city living is now firmed etched in Wellingtonian’s minds.
The quality of apartments has improved over time. Many of the early conversions suffered from poor plumbing, electrical services, and ventilation. Consequently, purpose-built blocks tend to be preferred over older conversions. The devastating Christchurch earthquake of 2011 forced significant changes in the insurance industry, throughout New Zealand. This has led to substantial increases in insurance premiums for many older apartment blocks.
Amenities
Everything Wellington has to offer on the retail front is available here. The main shopping hubs are around Manners Street and Cuba Street, including the pedestrianised Cuba Mall. They say that Wellington City has more cafes per capita than New York. A walk around these streets would appear to support this; you can literally throw a stone and hit another cafe. They all have their distinctive styles, from the clean and efficient but somewhat boring chain café, through to the bohemian and grungy style that inhabits the middle and upper portions of Cuba Street. Having said this, every café will serve you great coffee, efficiently and with a smile. The operators here know what they are doing, and they all take pride in their premises and great customer service.
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As well as cafes you’ll find numerous restaurants, bookshops, clothing stores, gift shops, and daily needs including chemists and convenience stores. Courtenay Place is the nightlife end of town. This is where you’re likely to find the younger crowd after 10pm, on Friday and Saturday nights. If you prefer your crowd a little less raucous and less inebriated, it’s probably best to stick with the more mature Cuba Street crowd after 10pm.
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Mt Cook School is zoned for the Te Aro area, offering primary schooling for years one to eight, with a role of about 200 pupils. There are several secondary school options on the edge of the city area including Wellington High School (mixed sexes), Wellington College (boys), Wellington East Girls (girls) and Wellington Girls College (girls).
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The Wellington waterfront is a major attraction, both for locals and those visiting from the suburbs. On sunny summer days the waterfront promenade attracts thousands of people; walking, jogging, cycling, rollerblading, or for just a good dose of people watching. Along the waterfront you’ll find several attractions including Te Papa Museum, Waitangi Park, Circa Theatre and Frank Kitts Park. The waterfront is full of great sculpture too. There are several small cafes, ice cream shops, restaurants and pubs to pop into for refreshment.
Real Estate Trends
The residential apartment market in Wellington has matured considerably in the last 10 years. There is now a range of apartment styles, sizes and budgets to suit most buyers. Issues tied to earthquake ratings has caused a flight to newer blocks in recent years, or to older blocks where an independent engineering assessment has been able to classify the block as being at least 60% of the current building code.
Price wise it’s possible to pick up a bedsitter (no separate bedroom, often called a studio flat) on the edge of Te Aro for as little as $200,000. But don’t expect much for that. One bedroom apartments range from the smaller-and-darker from about $300,000, to $600,000 for something more luxurious with parking and outdoor living space. Two bedroom apartments typically start from about $500,000, going up to as high as $1.5 million dollars or more for something on the waterfront. Apartment buying is a tricky business, and it pays to spend some time researching the market to get a handle on prices before committing.
It’s also vital to spend some time in the neighbourhood to check street noise at different times of the day. Don’t forget to check neighbouring sites too. You might have a nice outlook and sun now, but if a neighbouring site is redeveloped you could lose those benefits in the future. Look for an apartment with a point of difference if you can. Something that’s extra spacious, or has a great view, or an apartment with character, is more likely to maintain its value and be easier to resell in the future.
Best Streets
Waterfront apartments are the most sought after. These blocks include Chaffers Park, Clyde Quay apartments, The Willis & Bond Building, The Wharf Office Apartments, and 28 Waterloo Quay.
House Prices
Small studio, basic fit out, from $200,000.
1 bed apartment, no parking, from $350,000.
2 bed apartment, no parking, from $550,000.
Spacious 2 bed apartment, parking, from $650,000.
2 bed apartment, waterfront, parking, from $1 million.
Travel Times
Central city – you’re there already!
Airport – driving, 10 minutes non-peak.
Hutt Valley – driving, 15 minutes non-peak.
Weather
The notorious Wellington wind can funnel down some streets in Te Aro. It depends on the number of high rise buildings nearby. Check that your apartment gets some exposure to sunlight, at various times of the day. Remember that the sun will be further north during the winter months.