Wellington Central
Downtown city living and harbourfront lifestyle
Overview
The tall towers of Wellington’s central business district are set on a compact area of land between The Terrace and the waterfront. As well as offices the area is now home to thousands of residents in apartment buildings. It’s a youngish crowd with an average age of just 25. However, there are plenty of middle-aged folk who also call the central city their home, attracted by the ability to walk to work and to the social amenities that the city provides.
Best Suited To
Young professionals walking to work, empty nesters for the arts and city buzz.
Population Profile
Not to be mixed up with Te Aro, Wellington Central is essentially the northern section of Wellington’s downtown area. The area starts roughly from the railway station and continues southward to Civic Square. The western boundary is formed by the Wellington motorway while the waterfront forms the eastern boundary.
Living here you’ll find a young population where 68% fall between the ages of 18 and 34. Europeans make up 64% of the population. The next biggest group are Asians who account for 24%. The city attracts young people for the social opportunities as well as easy access to the workplace and to Victoria University. Residents here tend to have degrees or are at least working towards them. Commerce and IT are popular choices.
Those living and working in Wellington Central are often involved in retail, accommodation and food, financial and insurance, professional or public administration careers. Incomes show two distinct brackets. The number earning under $15,000 per annum are well above average, a reflection of the large student population here. The second bracket are those earning over $50,000. These are the graduates and professionals who have decided to continue living the city lifestyle.
Typical Homes
Apartments rule here. The majority (71%) are one or two bedroom, occupied by just one or two people (81%). Apartment styles vary considerably and there are no fixed rules as to whether one style is more preferred over another. A number of older buildings have been converted to apartments and many of these have thankfully kept their original character styling. The Wharf Offices, The Dominion Building and The Mission to Seamen Building are well preserved examples of the above. These feature high ceilings, timber joinery and floors, while kitchen and bathrooms are fitted out to above average specification.
Cheaper conversions of ex-office buildings exist in a number of Wellington Central localities, The Terrace being a popular locality for these. These were some of the earliest apartment conversions, done to a lesser standard and more likely to be rented rather than owner occupied.
New blocks have sprung up in the last 20 years and again these vary in quality and size. One of the newest blocks “One Market Lane”, is aimed at the upper end of the owner-occupier market with little if anything available under the $1 million mark.
Amenities
Lambton Quay (often referred to as ‘The Golden Mile’) is Wellington’s main retail shopping strip. Here you’ll find many of the high street stores that exist in other cities. The offerings can be a bit bland if you’re into independent store options – best to head into Te Aro for these. Wellington Central is home to most office blocks and thus there are a huge variety of cafes and eateries to keep office workers happy here.
Te Aro School is located at the south end of The Terrace. This is a co-educational primary school that prides itself on multicultural makeup, students being from more than 36 countries. Mt Cook School is situated toward the top of Tory Street. St Mark’s Church School near the Basin Reserve is an independent, Anglican co-educational primary school. There are a number of secondary school options within easy reach.
There’s plenty to keep you occupied in Wellington Central, especially if you’re the coffee drinking/socialising type. Away from these pastimes the waterfront provides plenty of space to stretch your legs. On most days (unless it’s a really fierce southerly) you’ll see lots of people out walking, running and cycling along the waterfront to Oriental Bay. Other handy outdoor space includes Civic Square, Midland Park, and The Bolton Street Cemetery. Of course there are the indoor attractions including movie theatres, live theatre, the Wellington City Art Gallery, and the excellent Museum of City and Sea which showcases Wellington history.
Real Estate Trends
The apartment market in Wellington Central is now reasonably mature, with a good range of sizes and prices for most budgets. Small studio units (combined living and bedroom areas) can be picked up from about $170,000, but these tend to be in less desirable blocks that were converted from office space, back in the 1990’s. One bedroom apartments tend to start at about $300,000. Again, at this budget price level you shouldn’t expect to get much for your money.
Body Corporate documents should be examined thoroughly for any significant issues. Spend over $500,000 and you should get something quite attractive in the one bedroom market. Quality two bedroom apartments start at about the $800,000 mark. Prices within the newer blocks such as Chews Lane Apartments and One Market Lane, will typically start at about $900,000, going up to $2 million or more for the most spacious apartments with harbour views.
Best Streets
Anything on the waterfront is sought after and consequently expensive.
House Prices
Studio unit, 30m2 or less, no views or car park, from $170,000.
Tidy one bedroom apartment, new or character, from $450,000.
Two bedroom apartment, newer block, secure car park, from $650,000.
Spacious two bedroom apartment, quality finish, car park, from $850,000.
Travel Times
Central city – you’re there already!
Airport – driving 10 minutes non-peak.
Hutt Valley – driving 10 minutes non-peak
Weather
When the wind blows and the rain falls, the central city can be an unattractive place to walk around. The tall office towers tend to funnel the wind, giving you a good blast when your round corners. At least there are plenty of indoor places to hideaway. As Wellingtonians like to say though, “you can’t beat it on a good day”.