Clumps of plaster are flying off a Wellington building as severe winds continue to lash the capital this afternoon.

The eight-storey building on the corner of Dixon and Taranaki Streets was cordoned off at about midday because of falling masonry.

Metservice has issued a strong wind warning for the region with northwesterly gusts as strong as 130kmh expected. 

Wellington City Council has put the cordon in place until the weather calms down.

Contractors were working to secure the loose materials on the outside of the building.

Meanwhile, a heavy rain warning is in place for Fiordland, the Tararua Ranges and Mount Taranaki.