Small tweaks, both up & down, are the main feature of Quotable Value Ltd’s rolling house price index figures for May, out today.
house price index
The 2 leading price-rise districts in Auckland – the southern suburbs on the isthmus & the north-west of the former Manukau City – reached a 100% increase over the 2007 peak 2 years ago, carried on rising and are still 105-110% above, though they’ve fallen slightly in recent months.
Quotable Value Ltd is still looking for large shifts in house prices to highlight, and there are still some sprinkled around the country. However, my impression from the QV monthly index figures out last Thursday is that Auckland is at a standstill or sliding slowly, and outside Auckland the catchup is slowing.
Quotable Value Ltd’s term for change in residential prices this month is “slightly” – even when it’s a lot, and even when this is about valuation rather than the always positive patter of agency.
Quotable Value Ltd’s rolling 3-monthly calculation of its house price index shows Auckland values picked up more in January. Nationally, the picture was mixed.
The average residential property value rose by 6.6% ($41,660) nationally last year, according to Quotable Value Ltd’s index. In Auckland, the rise was just $4583 (0.4%) for the year. In a few places the movement over the year was downward, including a 0.1% fall in Christchurch. QV recaps QV national spokesperson Andrea Rush said the general […]