THE ONLY WAY IS UP ... FOR NOW
QV’s latest House Price Index shows the average value of houses increased 3.6% nationally over the past three-month period to the end of September, up slightly from the 3.3% quarterly growth in August.
The national average value now sits at $977,456. This represents an increase of 26.3% year-on-year, down a fraction from 26.6% in August.
QV general manager David Nagel says he regards this as an aberration. In the previous three months there had been a reducing rate of growth. Nine of the 16 urban areas QV monitors have shown a slight rebound. Queenstown values rose at a significant 9.4%.
In the Auckland region, the average value now sits at $1.391 million, rising 3.3% over the past three-month period, with annual growth of 23.9% dropping slightly from August’s year-on-year growth of 24%.
The strongest value gains for the main cities over the past three months have come from Queenstown Lakes District at
