tmmonline.nz  |   landlords.co.nz        About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds

NZ's Financial Adviser News Centre

GR Logo
Last Article Uploaded: Thursday, March 28th, 10:13PM

News

rss
Latest Headlines

QV sees value stability spread

A flattening of house price values in Auckland helped residential property values remain relatively stable at a national level across April, according to the latest QV report for April.

Tuesday, May 10th 2011, 12:45PM

by The Landlord

"Nationwide property values have now been relatively stable for several months after falling slightly throughout most of 2010. Values are now 1.9% lower than the same time last year, and 5.8% below the market peak of late 2007," said QV research director Jonno Ingerson.

"The leveling of nationwide values was initially due to a flattening of values in the Auckland market, but there are now increasing signs of values stabilising in many other areas also."

Ingerson said in Auckland, values had remained within a narrow band for the last 18 months, and had been slightly variable over recent months.

"There is little evidence at this stage of values moving significantly up or down. Currently values in Auckland are 0.5% below the same time last year," he said.

Wellington values were 3.4% below last year, with most of the fall coming in 2010, and over the past six months have been moving within a narrow band.

Values in Hamilton sand Tauranga are 3.5% and 1.7% respectively below last year but Ingerson said both regions had seen values flatten off in recent months.

Values in Dunedin have dropped more over the past year than other main centres, though Ingerson said they too had been stabilising in recent months.

"Market sentiment remains patchy with some areas lacking quality listings to satisfy buyer demand, while other areas have little buyer demand despite plenty of houses for sale. In general properties with desirable attributes, or those that represent good value, are still selling well," Ingerson said.

He said the lack of sales activity in Christchurch since the February earthquake meant QV had not generated an index for the area, though he said local valuers are seeing plenty of interest in quality properties in relatively unaffected areas.

Despite values levelling on recent months in many provincial areas, none currently have valued above the same time last year.

This recent levelling of values, couple dwith declining values last year, means that the gap between this year and last year is closing in many areas.

Whangarei values are 5.2% lower than last year, Gisborne (-4.6%), New Plymouth (-4.5%), Palmerston North (-3.7%) and Invercargil (-3.9%),  all have seen the largest gap in values compared to last year.

Rotorua (-1%), Hastings (-1.4%), Napier and Wanganui (-2.4%) and Queenstown Lakes (-1.3%) all have values slightly below last year.

In Nelson values have been relatively stable since January 2010 and as a result the gap between last year and this year is only -0.7%.

While unrelated to the QV index, and a less reliable measure of value change, the average New Zealand sales price over the last three months is $405,310, up from the $400,656 figure a month earlier.

 

« Opportunities for investors in Auckland expansion proposalsFree Investment Property Showcase Events: Auckland, Wellington and Christchurch »

Special Offers

Commenting is closed

 

print

Printable version  

print

Email to a friend
News Bites
Latest Comments
Subscribe Now

Mortgage Rates Newsletter

Daily Weekly

Previous News
Most Commented On
Mortgage Rates Table

Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
AIA - Back My Build 6.19 - - -
AIA - Go Home Loans 8.74 7.24 6.79 6.65
ANZ 8.64 7.84 7.39 7.25
ANZ Blueprint to Build 7.39 - - -
ANZ Good Energy - - - 1.00
ANZ Special - 7.24 6.79 6.65
ASB Bank 8.64 7.24 6.79 6.65
ASB Better Homes Top Up - - - 1.00
Avanti Finance 9.15 - - -
Basecorp Finance 9.60 - - -
Bluestone 9.24 - - -
Lender Flt 1yr 2yr 3yr
BNZ - Classic - 7.24 6.79 6.65
BNZ - Green Home Loan top-ups - - - 1.00
BNZ - Mortgage One 8.69 - - -
BNZ - Rapid Repay 8.69 - - -
BNZ - Std, FlyBuys 8.69 7.84 7.39 7.25
BNZ - TotalMoney 8.69 - - -
CFML Loans 9.45 - - -
China Construction Bank - 7.09 6.75 6.49
China Construction Bank Special - - - -
Co-operative Bank - First Home Special - 7.04 - -
Co-operative Bank - Owner Occ 8.40 7.24 6.79 6.65
Lender Flt 1yr 2yr 3yr
Co-operative Bank - Standard 8.40 7.74 7.29 7.15
Credit Union Auckland 7.70 - - -
First Credit Union Special - 7.45 7.35 -
First Credit Union Standard 8.50 7.99 7.85 -
Heartland Bank - Online 7.99 6.69 6.45 6.19
Heartland Bank - Reverse Mortgage - - - -
Heretaunga Building Society 8.90 7.60 7.40 -
HSBC Premier 8.59 - - -
HSBC Premier LVR > 80% - - - -
HSBC Special - - - -
ICBC 7.85 7.05 6.75 6.59
Lender Flt 1yr 2yr 3yr
Kainga Ora 8.64 7.79 7.39 7.25
Kainga Ora - First Home Buyer Special - - - -
Kiwibank 8.50 8.25 7.79 7.55
Kiwibank - Offset 8.50 - - -
Kiwibank Special - 7.25 6.79 6.65
Liberty 8.59 8.69 8.79 8.94
Nelson Building Society 9.00 7.75 7.35 -
Pepper Money Advantage 10.49 - - -
Pepper Money Easy 8.69 - - -
Pepper Money Essential 8.29 - - -
Resimac - LVR < 80% 8.84 ▼8.09 ▼7.59 ▼7.29
Lender Flt 1yr 2yr 3yr
Resimac - LVR < 90% 9.84 ▼9.09 ▼8.59 ▼8.29
Resimac - Specialist Clear (Alt Doc) - - 8.99 -
Resimac - Specialist Clear (Full Doc) - - 9.49 -
SBS Bank 8.74 7.84 7.45 7.25
SBS Bank Special - 7.24 6.85 6.65
SBS Construction lending for FHB - - - -
SBS FirstHome Combo 6.19 6.74 - -
SBS FirstHome Combo - - - -
SBS Unwind reverse equity 9.95 - - -
Select Home Loans 9.24 - - -
TSB Bank 9.44 8.04 7.55 7.45
Lender Flt 1yr 2yr 3yr
TSB Special 8.64 7.24 6.75 6.65
Unity 8.64 6.99 6.79 -
Unity First Home Buyer special - - 6.45 -
Wairarapa Building Society 8.60 6.95 6.85 -
Westpac 8.64 7.89 7.49 7.25
Westpac Choices Everyday 8.74 - - -
Westpac Offset 8.64 - - -
Westpac Special - 7.29 6.89 6.65
Median 8.64 7.29 7.32 6.65

Last updated: 28 March 2024 9:42am

About Us  |  Advertise  |  Contact Us  |  Terms & Conditions  |  Privacy Policy  |  RSS Feeds  |  Letters  |  Archive  |  Toolbox  |  Disclaimer
 
Site by Web Developer and eyelovedesign.com