The Cost of Owning a Wellington Home Just Changed

This autumn has been one of Wellington's toughest in recent memory. Record rainfall, flooding, landslides, rising insurance premiums, and new council decisions have left many homeowners wondering what it all means for the value of their biggest asset. In this episode of The Lowe Down, Craig Lowe and Adam Cockburn unpack how recent weather events, insurance costs, and Wellington City Council's proposed Airbnb rates changes could influence the local property market. They discuss whether increasing climate-related risks are already affecting property values, how insurers are changing the way they assess risk, and why higher insurance premiums don't necessarily make a home unsellable, but they do change the economics of ownership. The conversation also explores Wellington's ageing infrastructure, the debate around risk-based insurance pricing, and whether council's proposed rates increase for short-term accommodation could push more properties back into the long-term rental market. From flood zones and LIM reports through to Airbnb economics and the future cost of owning property in Wellington, this episode takes a practical look at the issues many homeowners, investors and buyers are now starting to ask about.