This week's Property Pulse by CoreLogic's Chief Property Economist Kelvin Davidson takes a deep dive into Wellington's property boom.

A couple of highlights below:

- In June 2015 the average home value for wider Wellington was $459,751. Six years later the number has jumped to $1,024,649 – a rise of 123%, or $564,898.

- CoreLogic's Buyer Classification data shows that (like other parts of the country) mortgaged investors have been pretty active, but there's also been a high presence for first home buyers across wider Wellington.

- Supply of property hasn't kept pace with demand. Listings are tight across wider Wellington and although new dwelling consents have been rising, they're still low per capita when compared to NZ as a whole.

- The strong rise in property values has seen housing affordability deteriorate – for example, years to save a deposit is now 8-9 years in each of Wellington's sub-markets (all record highs).

- Wellington's relatively stable economy and employment base, along with obvious supply restraints, will always be a solid base for the housing market. However, given that affordability has generally deteriorated more than elsewhere in the country, over the next few years Wellington's property value growth may underperform the national average.

Source: CoreLogic Media