Jenny Ruth
Monday 8th August 2005 |
Text too small? |
Average growth in house prices nationally was up 14.3% in July from July last year to $310,420. That compares with the 14.2% annual increase in June, the 13.5% rise in May, 12.5% rise in April and 12.1% rise in March when it had appeared that house price inflation was abating.
"There are still more areas throughout the country where property values are growing at increasing rates versus those that are slowing," says QV's Blue Hancock.
In particular, some cities are still showing strong growth including Hamilton were the average price was up 24.8% on July last year and Dunedin which was up 21.4%.
Hancock says a number of provincial areas are also buoyant including New Plymouth, up 35.4% in July from July last year, Gisborne, up 28.9%, Whangarei, up 25.2% and Rotorua, up 20.5%.
"These areas represent affordable options for first home buyers and investors, which is contributing to the strong growth in these areas," he says.
QV's figures are prepared on a three months rolling average basis. Auckland and Wellington house prices are growing at significantly lower rates than other cities, up 8.3% and 11.6% respectively in July from July last year.
The only area to show an annual decline in house prices was Nelson, down 0.7%.
That's in sharp contrast to Stratford where the annual increase was a whopping 57.5%.
Hancock notes the Queenstown market has revived with annual growth jumping from just 1.5% in January to 11.3% in July.
No comments yet
GTK - Half-Year Results Announcement Date
Government ends war on farming
Sky and BBC Studios renew expanded, multi-year agreement
AOF - Q1 Improved Trading Performance & FY24 Guidance Maintained
Devon Funds Morning Note - 23 April 2024
April 23rd Morning Report
RYM - Group CEO Update
BGI - Director Michael Chai
RAD - Final Dividend and Strong FY24 Operating Performance
RYM - Group CEO Update