House values rise 9.3 per cent as Auckland effect spills over: QV
Low interest rates and a shortage of listings continue
to propel the Auckland housing market to new heights,
with house values in June 17 per cent higher than they were a year ago.
Monthly figures from state valuer QV also show that
nationally house values have risen 9.3 per cent over the past year,
putting them nearly 26 per cent above the previous market peak in 2007.
Values over the last three months rose 3.6 per cent nationally and 5.5 per cent in Auckland.
Auckland's high prices appear to be finally driving people
to invest elsewhere.
QV noted that large numbers of Aucklanders were
flocking to buy property in Tauranga, Hamilton and the Western Bay of Plenty,
which had all seen rising values.
"There are reports that of those present at open homes in Tauranga,
as many as 60 per cent are regularly from Auckland, while around
15 per cent of all buyers in the Hamilton market are now from Auckland."
In the other main centres, Wellington, Christchurch and Dunedin
continued to rise at a slower, steady rate.
QV spokeswoman Andrea Rush said there was also
a severe shortage of properties listed for sale across all of the main centres.
Low interest rates and a shortage of listings continue
to propel the Auckland housing market to new heights,
with house values in June 17 per cent higher than they were a year ago.
Monthly figures from state valuer QV also show that
nationally house values have risen 9.3 per cent over the past year,
putting them nearly 26 per cent above the previous market peak in 2007.
Values over the last three months rose 3.6 per cent nationally and 5.5 per cent in Auckland.
Auckland's high prices appear to be finally driving people
to invest elsewhere.
QV noted that large numbers of Aucklanders were
flocking to buy property in Tauranga, Hamilton and the Western Bay of Plenty,
which had all seen rising values.
"There are reports that of those present at open homes in Tauranga,
as many as 60 per cent are regularly from Auckland, while around
15 per cent of all buyers in the Hamilton market are now from Auckland."
In the other main centres, Wellington, Christchurch and Dunedin
continued to rise at a slower, steady rate.
QV spokeswoman Andrea Rush said there was also
a severe shortage of properties listed for sale across all of the main centres.
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