House values continue to rise and are up 14.7 percent nationwide for the 12 months to August.
Thursday, September 15th 2005, 8:34AM
by The Landlord
Figures from Quotable Value show most main urban areas are doing well.
Hamilton has seen growth of 25.4 percent, while Dunedin is up 21.2 percent. Christchurch and Wellington follow on 19.5 and 10.5 percent respectively.
QV spokesman Blue Hancock says "the continued growth in property values is a reflection of a market that is remaining buoyant." He says there are still a number of provincial areas including Wanganui (42.9 percent) and New Plymouth (35.5 percent) where values are growing at increasing rates, driven by factors such as an availability of affordable housing and attractive returns for investors.
Auckland City values are up 4.4 percent but other areas in the region perform better, with Papakura recording a rise of 14.1 percent, Manukau 12.0, Waitakere City 11.9 and North Shore 11.8 percent.
