13 June 2012
According to the latest Quotable Value (QV) index, residential property values have risen nationwide after a steady couple of months. Values are up 3.9% over the last year and 1.0% up over the past three months, sitting 2.0% below the 2007 market peak.
It was no surprise that qv.co.nz Research Director Jonno Ingerson stated that Auckland had been leading the way, with almost all of the main centres increasing in value over the past month.
Values in the wider Auckland area are up 1.2% over the past month and 14% over the past three months. In particular, values in the old Auckland City are now 6.5% above the previous market peak and are 7.4% higher than the same time last year.
The other area also experiencing noticeable rises in values is Christchurch, sitting 0.8% above the previous market peak with an increase of 0.8% over the past three months.
It was these areas which had the most significant year-on-year increases with Auckland values up 5.7% and Christchurch values up 5.4%.
Other main centres such as Wellington, Hamilton and Queenstown all currently have values above the past year, with the possibility of further value increases benefiting New Zealand property investors