Sharechat Logo

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

  General Finance Advertising    

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.

Related News:

MARKET CLOSE: NZ shares mixed ahead of Anzac Day holiday; A2, Synlait fall further, Fisher & Paykel bounces
USX: Introducing Pharmazen Limited
NZ dollar falls to 3 1/2 month low as rising US interest rates bring trading back to fundamentals
Gold Report 23rd April 2018
Gold Report 16th April 2018
Gold Report 9th April 2018
Gold Report 3rd April 2018
Gold Report 26th March 2018
Gold Report 19th March 2018
Gold Report 12th March 2018

IRG See IRG research reports