Two homes at the same price can be very different investments depending on how they're owned. Freehold, strata, crosslease, leasehold — each affects what you pay, how long it takes to sell, and what you can do with the property. Here's what Wellington's actual sales data shows.
Based on residential sales · 24 months to 30 Sep 2026
How each ownership type performs
Median price, typical time to sell, and how sale prices compare to rating valuations (CV, recent sales).
Freehold
4,373 sales · 2yr
$911,000
Median price
Typical time to sell41 days
Sells at98% of CV
You own the land and everything on it outright. The simplest, most sought-after form of ownership — and usually the easiest to finance, insure, and resell.
Strata / Unit Title
1,013 sales · 2yr
$605,010
Median price -34% vs freehold
Typical time to sell55 days
Sells at95% of CV
Common for apartments and many townhouses. You own your unit plus a share of common property, governed by a body corporate with shared rules and levies. Check the body corp accounts and long-term maintenance plan.
Crosslease
363 sales · 2yr
$680,000
Median price -25% vs freehold
Typical time to sell42 days
Sells at98% of CV
You lease a share of the whole site jointly with the other owners, with exclusive use of your area. Cheaper entry than freehold, but alterations need co-owners' consent and defective flats plans can complicate a sale. Often convertible to freehold.
Leasehold
15 sales · 2yr
$585,000
Median price -36% vs freehold
Typical time to sell56 days
Sells at94% of CV
You own the building but lease the land, paying ground rent that can be reviewed upward. Lower purchase price, but ongoing cost and resale can be harder — read the lease terms carefully.
What ownership type comes with what home
Ownership type is closely tied to property type. Standalone houses are almost always freehold; apartments are mostly strata.
Residence3,847
Townhouse405
Apartment803
Unit448
Residential Section92
Home and Income169
FreeholdStrata / Unit TitleCrossleaseLeasehold
Your suburb's ownership profile
Some suburbs are freehold-house markets; others are dominated by apartments and townhouses. This shapes who buys there and how properties sell.
FreeholdStrata / Unit TitleCrossleaseLeasehold
How to read this: figures are medians from residential sales over the last 24 months (CV comparison uses the most recent 18 months, since older sales pre-date current valuations). Ownership type is one factor among many — condition, location within a suburb, and timing all matter. For advice on a specific property, the numbers here are a starting point for a conversation, not a valuation.
Amy Allen · Lowe & Co Realty · amy@loweandco.nz · 021 0241 6105 · Data to 30 Sep 2026 Andco Realty Ltd — Licensed under REAA 2008