Val­ues con­tinue to drop

Kapi-Mana News - - NEWS -

The QV res­i­den­tial prop­erty in­dex has been re­leased, and al­though na­tion­wide val­ues have in­creased, Welling­ton’s val­ues con­tinue on a down­ward trend. ‘‘The Welling­ton area is the only main cen­tre where val­ues have con­tin­ued to de­cline in re­cent months. Val­ues have dropped over a per­cent since Jan­uary, and now sit 3.3 per cent be­low the same time last year,’’ QV re­search di­rec­tor Jonno Inger­son said. In June 2011, the prop­erty value in Porirua dropped 2.8 per cent, leav­ing the av­er­age sale price at $405,076. Kerry Buk­eridge, of QV Val­u­a­tions, said: ‘‘With cur­rent prices, and his­tor­i­cally low in­ter­est rates, hous­ing is the most affordable it has been for many years, yet peo­ple are not rush­ing into the mar­ket.’’

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