43 The market slowdown has now firmly hit Wellington. Quarterly growth of 2.4% is the lowest we’ve seen for almost two years. Porirua experienced a slight drop in values over the past three months, while Lower Hutt looks to be the most unaffected – likely due to heavy first home buyer activity here. Average Value of Housing Stock - Wellington Annual and Quarterly Value Change - Wellington June 2017 Current Value 3 months 12 months Since 2007 peak Porirua $509,575 -0.4% 20% 33% Upper Hutt $448,380 1.4% 22% 28% Lower Hutt $509,860 2.7% 23% 30% Wellington City $726,902 1.4% 16% 37% Wellington Values