QV house price index rise slowing, but Auckland still up 8.6% for year net of inflation
Tuesday 7 October 2014
Quotable Value said yesterday its Auckland residential price movement index rose 1.8% in the last 3 months and was up 10.3% for the year, pushing it to 33.8% above the 2007 peak. Adjusted for inflation, the annual rise was 8.6%, taking the increase since 2007 to 14.6%.
QV’s national index rose 1.1% over 3 months, 6.4% for the year, 16.2% since 2007. Adjusted for inflation, the national index was up 4.7% for the year, 0.5% from 2007.
QV national spokeswoman Andrea Rush said the rate of growth nationally continued to slow: “Auckland, Christchurch & Dunedin saw home values increase, while Tauranga remained flat over the past 3 months.
“Wellington values continued the downward trend of recent months and Hamilton values were also slightly down over the past 3 months.
“Following a lull in sales activity and low listings in the lead-up to the election, the election result – coupled with the coming of spring & stable interest rates – is bringing renewed interest & activity to the market.”