Newtown

Newtown is Wellington at its most diverse. Its Riddiford Street spine runs past Indian, Malaysian, Ethiopian and Middle Eastern eateries, ethnic grocers and second-hand shops, reflecting a population drawn from across the world. Wellington Regional Hospital, the lower North Island's main tertiary facility, anchors the suburb and brings a steady stream of healthcare workers, while proximity to Victoria University adds students and a creative, slightly bohemian edge. The zoo and Town Belt sit on its edges. For investors, Newtown's appeal is yield, among the better gross returns in the city at around 4.4%, supported by a deep, varied tenant base. The headwinds are Wellington's government-sector-driven downturn and the suburb's older, maintenance-heavy housing. Overseas buyers must also navigate New Zealand's 2018 foreign-buyer ban on existing homes, which makes new-build or an OIO exception the only path in.

Newtown in Wellington, Wellington Region, New Zealand