Quotable Value Ltd’s residential price movement index, out last week, shows the value of housing in Auckland rose another 2% above the 2007 market peak in March alone.
The index for the Auckland region rose from 43.8% above that 2007 peak in February to 45.8% above at the end of March.
Southern suburbs on the isthmus have made the biggest gain, 60.2%. The average value in the isthmus’s eastern suburbs is closing in on $1.2 million ($1,195,389), and coastal North Shore is $120,000 behind.
Outlying areas picked up ground over the summer, but the areas to make the strongest gains over the last 3 months were the southern & eastern isthmus suburbs, coastal North Shore, Manukau & its eastern suburbs. Topping the lot with an 8.2% gain over 3 months were the Hauraki Gulf islands, but, as usual, Statistics NZ warned to treat the gulf figures with caution for lack of volume.