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

KiwiRail would allow Hawke's Bay council to lease Napier-Gisborne line
Spark forges deeper links with Huawei to piggyback on Chinese R&D
Little appoints shadow Cabinet: Robertson finance, King deputy
NZ net migration rises to fresh record in October as more kiwis return, Indian students arrive
Precinct sells SAP tower to Bob Jones for $97 million
Acurity lifts 1H earnings 22% on increased DHB work, cost cuts
RIS trading suspension lifted after it lodges auditor-tagged annual report
Scales says full-year earnings may exceed prospectus, to pay 3 cent interim dividend
NZ dollar slips after jumping in New York on Draghi, Chinese rates
World Week Ahead: Stocks power higher

 
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 2014 MoneyOnline Ltd & Investment Research Group Ltd. All Rights Reserved.