About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds Other Sites:   tmmonline.nz  |   landlords.co.nz
Last Article Uploaded: Friday, December 14th, 6:30PM
rss
Latest Headlines

City markets take value growth hit

Sales activity crept up in March but new data from QV shows property value growth remains subdued around the country.

Thursday, April 5th 2018, 7:00AM

by The Landlord

The latest QV House Price Index shows that nationwide property values increased by 5.6% over the past year, once adjusted for inflation, and by 1.2% over the past three months.

This left the national average value is $677,618 in March, as compared to $631,432 in March 2017.

At the same time, Auckland values continued to flatline.

Once adjusted for inflation, the region’s values dropped by 0.6% year-on-year and inched up by just 0.4% over the past quarter, leaving Auckland’s average value at $1,055,992.

Value growth in the other main centres also slowed.

QV national spokesperson Andrea Rush says that while there was a seasonal pick-up in sales volumes and activity, sales volumes were still lower than usual for March.

She says nationwide annual value growth rose at its fastest rate in nine months but, of the main centres, Dunedin leads the way with annual growth of 9.4%.

“The Auckland and Christchurch (down -0.6%) housing markets have seen little value movement over the past year and the rate of annual growth has also slowed in the Wellington region (although it was up 8.2%).

“The Tauranga (up 4.5%) and Hamilton (up 4.3%) markets are still rising but, again, at much slower rates than the previous two years.”

The areas that saw the highest annual value growth were Napier (up 17.6%) and Hastings (up 14.7%) and Invercargill (up 10.4%).

Rush says that in the regions that saw the highest value growth it was driven by demand from people looking for more affordable homes or for investment properties outside of the main centres.

“With restrictions on finance being eased by the retail banks it’s been a little easier for some investors and home buyers to gain finance to purchase.

“First home buyers appear to be capitalising on subdued investor activity and some are finding they can purchase more easily without the same level of competition.”

Meanwhile, QV representatives around the country commented on the continuing subdued levels of investor activity and the impact of that on the market.

QV Hamilton property consultant Andrew Jaques says investors still lack confidence in the market and are off-loading rentals as opposed to investing further.

QV Wellington senior consultant David Cornford says the investor market remains relatively flat due to higher deposit requirements, lower promise of capital growth and the new Healthy Homes legislation.

« Free Investment Property Showcase Events: Auckland, Wellington and ChristchurchSuperCity March sales at 8 year low »

Special Offers

Comments from our readers

No comments yet

Sign In to add your comment

 

print

Printable version  

print

Email to a friend
News Bites
Latest Comments
Subscribe Now

Mortgage Rates Newsletter

Daily Weekly

Previous News

MORE NEWS»

Most Commented On
Mortgage Rates Table

Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
ANZ 5.79 4.55 4.79 4.99
ANZ Special - 4.05 4.29 4.49
ASB Bank 5.80 4.44 4.69 4.89
ASB Bank Special - 3.95 4.29 4.49
BNZ - Mortgage One 6.50 - - -
BNZ - Rapid Repay 5.95 - - -
BNZ - Special - 4.10 4.29 4.49
BNZ - Std, FlyBuys 5.90 4.69 4.79 4.99
BNZ - TotalMoney 5.90 - - -
Credit Union Auckland 6.70 - - -
Credit Union Baywide 6.15 5.20 5.25 -
Lender Flt 1yr 2yr 3yr
Credit Union North 6.45 - - -
Credit Union South 6.45 - - -
Finance Direct - - - -
First Credit Union 5.85 - - -
Heartland 6.70 7.00 7.25 7.85
Heartland Bank - Online - - - -
Heretaunga Building Society 5.75 4.70 4.85 -
Housing NZ Corp 5.80 4.69 4.79 4.79
HSBC Premier 5.89 3.99 4.19 4.69
HSBC Premier LVR > 80% - 3.79 - -
HSBC Special - - - -
Lender Flt 1yr 2yr 3yr
ICBC 5.80 4.59 4.69 5.09
Kiwibank 5.80 4.55 4.69 4.99
Kiwibank - Capped - - - -
Kiwibank - Offset 5.80 - - -
Kiwibank Special - 4.05 4.29 4.49
Liberty 5.69 - - -
Napier Building Society - - - -
Nelson Building Society 6.10 5.10 5.45 -
Resimac 5.30 4.86 4.94 5.30
RESIMAC Special - - - -
SBS Bank 5.89 4.85 5.05 4.49
Lender Flt 1yr 2yr 3yr
SBS Bank Special - 4.19 3.95 4.49
Sovereign 5.90 4.45 4.69 4.89
Sovereign Special - 3.95 4.29 4.49
The Co-operative Bank - Owner Occ 5.75 4.10 4.35 4.49
The Co-operative Bank - Standard 5.75 4.60 4.85 4.99
TSB Bank 5.80 4.45 4.69 4.99
TSB Special - 3.95 4.19 4.49
Wairarapa Building Society 5.70 4.85 4.99 -
Westpac 5.95 4.69 4.79 5.19
Westpac - Offset 5.95 - - -
Westpac Special - 4.15 4.29 4.59
Median 5.89 4.50 4.69 4.79

Last updated: 2 December 2018 8:39pm

News Quiz

The maximum remuneration model for Australian life insurance advisers is to be set at what?

Upfront 40% + trail 20%

Upfront 50% + trail 10%

Upfront 50% + trail 20%

Upfront 60% + trail 10%

Upfront 60% + trail 20%

MORE QUIZZES »

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