In the first half of 2016, transaction volumes totaled $422 million in the $5+ million asset value bracket as a result of 15 properties changing ownership. The volume and number of sales have surpassed the levels observed in the first half of 2015, but are below the very strong result in the second half of 2015. Similarly to Christchurch and Auckland, on a seasonally adjusted basis, the Wellington investment market shows a clear growth pattern over the past three years.