Property values ease slightly

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QV’s February property statistics indicate that residential property values rose by 15.3% over the past twelve months, down on the 16.8% reported in January. “The February statistics show an easing in the residential price movement reflecting feedback from the market that there is a softening in demand and less pressure on prices,” says QV spokesperson Blue Hancock. “An annual growth

Sunday, March 12th 2006, 12:00AM

by The Landlord

in property values of 15.3% is still very strong, and although the growth rate has dropped slightly, the decrease is not at a level that would suggest any dramatic change in the market.”

All of the main centres saw a slight decrease in the annual growth rate from the statistics reported in January with Hamilton dropping from 26% to 25.4%, Christchurch down to 17.5% growth, Wellington 13%, Auckland 10.5% and Dunedin 9.8%.

Of the major provincial cities Rotorua led the way with 32% growth, up 1% on the growth reported in January. However, the change in property values in most of the other major provincial cities appear to be following the national trend, with Whangarei easing to 30.6%, Gisborne 20.1%, and Palmerston North 20.6%.

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