Townhouse values hit and miss as buyers prefer stand-alone houses

Easing mortgage rates mean more affordable stand-alone houses are appealing to home buyers again.

Cotality’s (formerly CoreLogic) Mapping the Market report shows in contrast, values for townhouses and flats across the second quarter of this year are more hit and miss.

In just over half of the country’s suburbs (54%) values for townhouses and flats were steady or rose, but only 16% had growth of 2% or more.

While some areas posted notable increases - including North West Bay (Marlborough) and Whangarei Heads - only 43 suburbs saw townhouse values rise by at least 5%, and just 12 exceeded 7%