YOUR HOUSE
CoreLogic’s House Price Index shows another rise in November of 0.7 per cent. The net result is that average property values were up by 1.1 per cent over the three months to the end of November, and the annual change sits at -4.5 per cent, the softest annual decline since November 2022, when it was -2.9 per cent.
From the peak to September trough, values fell 13.2 per cent. After the increases in October and November, values remain 12.3 per cent down from the high, at $915,448.
Auckland, Hamilton, Tauranga, Wellington and Christchurch had monthly rises in the range of 0.7-0.9 per cent, while Dunedin rose by a buoyant 1.9 per cent.
However, the market hasn’t exactly soared away, says Kelvin Davidson. CoreLogic’s chief property economist. While sales volumes have been growing steadily in percentage terms, it’s from a low base that hasn’t translated into a surge in the number of deals.
Meanwhile, credit conditions remain challenging. “Even if mortgage rates don’t rise much further, or even dip a bit
