Auckland house values at standstill, catchup continues strongly elsewhere

Auckland house values remained at a standstill in the 3 months to October, while the catchup being played out around the rest of the country was strong in several centres, according to Quotable Value Ltd’s monthly update.

Averaged over the whole region, Auckland’s value growth rate for the 3 months was 0.1% – up in 4 of the pre-2010 council areas, down in 3, but none of those moves by very much.

Places where housing inflation wasn’t rampant for the 9 years from December 2007 – starting with the trough during the global financial crisis and much slower climb out of that than occurred in Auckland – included Gisborne, still up on the QV count by only 8.9% since 2007, Whangarei up 42.1%, Invercargill up 28.2% and Dunedin up 50.8%.

Those cities’ most recent rolling 3-monthly gains are 1.5% in Gisborne, 6% in Whangarei, 3.6% in Invercargill, 3.8% in Dunedin.

On Auckland’s borders, Kaipara has risen 2.3% over the last 3 months and 11.5% over the last year, while Waikato has gained 1.7% in 3 months, 5.3% over the year.

Below, the dollar figure is the average value for October. The first percentage is for the 3 months to October, the second is for the last 12 months (QV switches those around in its tables) and the third is the change since the 2007 peak. For Auckland, QV still works on the old council boundaries (councils marked in bold); Kaipara & the Hauraki Gulf Islands, as usual, have low counts:

Auckland region, $1,050,647, 0.1%, 0.4%, 92.9%
Rodney, $943,053, -0.7%, 0.8%, 60.8%
North, $965,739, -0.1%, 0.6%, 56.9%
Hibiscus Coast, $921,316, -1.3%, 0.6%, 56.9%
North Shore, $1,215,601, 0.1%, 0.2%, 88.4%
Coastal, $1,381,946, -0.5%, 0.1%, 83.4%
Onewa, $979,159, 0.9%, 0.5%, 97.4%
North Harbour, $1,194, 0.9%, 0.3%, 96.6%
Waitakere, $826,280, 0.6%, 0.6%, 94.9%
Auckland City, $1,239,592, -0.1%, -0.2%, 99.1%
Central, $1,090,427, 2.3%, 0.4%, 91.5%
East, $1,558,780, -0.1%, -0.7%, 95.6%
South, $1,097,192, -0.9%, 0.3%, 103.8%
Islands, $1,171,450, -1.1%, 1.4%, 83.2%
Manukau, $906,928, 0.9%, 1.7%, 98.1%
East, $1,159,206, 0.9%, 1.3%, 94.5%
Central, $706,492, 0.9%, 2.8%, 87.9%
North-west, $783,961, 0.8%, 1.8%, 112.2%
Papakura, $698,825, -0.6%, 1.0%, 94.2%
Franklin, $671,732, 0.4%, 1.8%, 69.8%

Northern border, down country & nationally:

Whangarei, $563,312, 6.0%,12.7%, 42.1%
Kaipara, $548,740, 2.3%,11.5%, 38.3%
Waikato, $484,170, 1.7%,5.3%, 59.9%
Hamilton, $565,859, 1.2%,4.0%, 56.5%
Tauranga, $713,859, 1.2%,3.9%, 48.3%
Gisborne, $323,702, 1.5%,11.3%, 8.9%
Wellington region, $685,387, 4.0%, 8.1%,50.5%
Christchurch, $495,742, 0.3%,0.4%, 30.7%
Queenstown-Lakes, $1,174,167, 1.1%,6.2%, 70.7%
Dunedin, $431,665, 3.8%,11.7%, 50.8%
Invercargill, $282,705, 3.6%,12.2%, 28.2%
Total NZ, $681,545, 1.3%, 3.5%, 64.8%

Attribution: QV.

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