House values dip but market still buoyant

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House values in North Otago have dipped slightly over the last 12 months but the market is still buoyant locally, says the Real Estate Institute’s spokesman for North Otago, Tony Spivey.

“The feeling is North Otago is heading in a positive direction and given tough economic times and fluctuations around the world, values have stood up really well,” he said.

Statistics released by QV.co.nz show residential property values in North Otago have dropped 1.5 per cent to an average of $213,132 while nationwide the average has risen by 8.9 per cent.

Mr Spivey said the Waitaki region was growing and agents were busy.

 

By CHRIS TOBIN

 

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