QV: House Prices Still Rocketing

At this rate an Auckland house worth $600K today increasing by 15% p.a. compounding will be worth $2,427,334.64 in 10 years time. Is this possible?


House values up 3pc in quarter – QV

By Anne Gibson
Jan 14, 2014

QV says residential property values rose 3 per cent in the past three months and were up 10 percent for the year.
QV has just released its latest data showing residential values continuing to rocket ahead and Auckland and Christchurch are leading the charge.

Values are up 3 per cent in the past three months, up 10 per cent annually and are now 12.5 per cent above the previous market peak of late 2007.
Jonno Ingerson, QV.co.nz research director, said the increase defied scepticism.

Link:

http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=11186245

QV release

http://media.nzherald.co.nz/webcontent/document/pdf/20143/QVrelease.pdf> .

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