A housing market that refuses to slow down has confounded the real estate industry, as the latest residential price movement survey shows a relentless rise in house values.
Wednesday, August 10th 2005, 7:39AM
by The Landlord
For the year to July, houses increased on average 14.3 per cent, up 0.1 per cent from the increase in the 12 months to June.
Quotable Value spokesman Blue Hancock said the pattern of the previous few months had been seen again in July, with regional areas the strongest performers, main centres exhibiting slower growth and previous boom regions such as Nelson and Tasman static.
Hamilton values increased by 24.8 per cent while Dunedin values grew by 21.4 per cent. New Plymouth at 35.4 per cent, Gisborne with 28.9 per cent and Whangarei on 25.2 per cent were other strong performing areas.
"(The slowdown) is just not a happening thing, and I think it's confounding all of us. We're putting it down to the strength of the economy."
