About Us  |   Advertise  |   Contact Us  |   Terms & Conditions  |   RSS Feeds
 
Support our sponsors:
sharemarket

NZ property values extend gains in February, again led by Auckland, Canterbury

Friday 8th March 2013

Text too small?

New Zealand property values continued to rise in February, with most of the increase still coming from Auckland and Canterbury.

National property values rose 3.2 percent in the three months ended Feb. 28 to $428,692 and have gained 6.3 percent over the past year, according to state valuer Quotable Value.

Property values are now 3.2 percent above the last peak in late 2007.

In Auckland, values are up 10.4 percent over the past year while in Christchurch the gain was 7.5 percent. Among other centres, Hamilton is up 4.6 percent, Wellington up 1.7 percent and Dunedin up 3.7 percent.

"As has been the case for several months, there are a low number of properties for sale and low numbers of new listings coming to the market," QV research director Jonno Ingerson said in a statement. "This continues to constrain choice for buyers, many of who are keen to buy but cannot find a suitable property."

Heat in the housing market has been cited by Reserve Bank governor Graeme Wheeler as an area of concern and is partly why the central bank is considering the use of macro-prudential tools, such as limits on loan-to-value ratios, to more specifically target parts of the economy.

 

 

BusinessDesk.co.nz



Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.
Bookmark and Share   Printable version
Related News

NZ migration surged to a record in 2014, helped by robust economy
NZ home building consents fall 2.1% in December, first decline in 3 months
Equitise launches new crowdfunding platform raising money for Tourism Radio
Orion shares drop to record low on warning contract & billing delays will dent sales
GeoOp names Ben Foote as CEO, replacing Leanne Graham
Wynward missed 2014 annual revenue forecast due to timing of key contracts
NZ dollar touches fresh 4-year low as traders bet on RBNZ interest rate cuts
While you were sleeping: McDonald’s, Boeing rally
NZ Oil & Gas will return $63.2M of excess cash to shareholders next month
Americans the biggest buyers of New Zealand land since 2010, Linz data shows

 
Previous News
Bond
News Alerts
Breaking News 
After the Bell (daily) 
Gold News 

Unsubscribe/Update »

RSS feeds »
Twitter »
Facebook »

Most Commented On
  forex centre
cfd centre
options centre
NZX 15 Index





© Copyright 2015 MoneyOnline Ltd & Investment Research Group Ltd. All Rights Reserved.