Increase in house prices continues

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Residential property values across New Zealand increased further in June, with some provincial areas seeing some gains and some previously declining or slow areas experiencing a pick-up.

Quotable Values (QV) operations manager Kerry Stewart said that, nationwide, values are continuing to increase although only about half as quickly as they did in the years leading up to the 2007 market peak.

“Both Waitaki and Waimate property values have held in the past three and 12 months, although since the 2007 market peak, overall residential property values in both areas have fallen,” he said.

“The average current value of residential property in Waitaki is $218,080, a change of 2.9 per cent in the past 12 months, 1.3 per cent in the past three months and a fall of 4.6 per cent since the 2007 market peak.

“The average current value of residential property in Waimate is $188,828, a change of 5.2 per cent in the last 12 months, 2.1 per cent in the last three months and an overall fall of 1.5 per cent since the market peak of 2007.”

 

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