Prices growing, but more slowly: QV
Its latest data shows that nationwide residential prices increased 8.1% in the year to July, and 3.1% over the past three months. Prices are now 7.5% up on what they were in late 2007, the last market peak.
Operations manager Kerry Stewart said: “Values continue to rise, although still primarily driven by Auckland and Christchurch. Most of the rest of the main centres are also increasing but at a much slower rate. Many of the provincial towns had previously started to see some small gains; however values have dropped over the last month.”
He said the slowdown since May was more than a normal winter drop-off. “This appears to be due a decrease in sales activity and a decrease in home loan approvals. The latter is due to many main banks already tightening their lending policy in anticipation of policy changes from the reserve bank.”
Auckland prices are still increasing, especially in old Auckland City, Waitakere and the North Shore. All three reported a price rise of more than 4%, leading to a 4.1% increase in Auckland region as a whole.
Click the button below to subscribe and will have free unlimited access for a limited time to full article and all other articles on the site.
You will also be able to comment on articles on Good Returns.
![[Weekly Wrap] KiwiSaver in play; but outcome unclear](https://goodreturns.publit.io/file/c_fill,w_300,h_200/0ad582e4-c9a3-4692-bbe2-62d928f77fd2.jpg)