The ongoing demand for quality renovated homes looks set to continue. First-home buyers find a dollar goes further here. A three-bedroom home in Ranui hovers around $300,000, while a similar house in Karori (which has a similar commuting time to Wellington's CBD) costs around $150,000 more. Entry level for family homes in Ranui is a smidgen under $200,000, with a 1900s three-bedroom villa recently selling for $290,000. At the upper end, you'll get change from $400,000 for a three-bedroom home with all mod-cons on a spacious section.
In the state-housing area of the suburb, entry level for a three-bedroom former state house is $170,000-$180,000. Ex-state houses attract both first-home buyers and property investors looking for a solid low-risk investment, given good rental prices and occupancy rates. Ranui's lower sale price inertia tends to put off serious property developers.