Members of Wellington's upper crust are trading their houses for luxury apartments.
QV registered valuer, Kerry Buckeridge says more high-value suburban houses have sold over the past year than expected.
He thinks it's likely a portion of these sellers are snatching up apartments in the new Clyde Quay and Market Lane developments.
He says people recognise this calibre of apartment won't come up again in hurry.
The latest QV statistics show the capital's also seen the largest increase in new property listings in the country over the past few weeks.
Yet Mr Buckeridge says real estate agents are struggling to get sales across the line, as there hasn't been strong growth on a sustained basis in Wellington, like there has been in other centres.
He says properties need to stay well-presented, sensibly priced and well-marketed, to sell.
Take your Radio, Podcasts and Music with you