Slight in­creases ev­i­dent

South Waikato News - - PROPERTY -

National prop­erty val­ues have con­tin­ued to grad­u­ally in­crease says the Quotable Value res­i­den­tial prop­erty in­dex for Au­gust.

‘‘Na­tion­wide prop­erty val­ues have again in­creased slightly over the past month and are now 0.1 per cent above the same time last year and 5.0 per cent be­low the mar­ket peak of 2007,’’ said Glenda White­head of QV Val­u­a­tions.

‘‘ Although na­tion­wide val­ues are grad­u­ally in­creas­ing, there re­main dif­fer­ences be­tween ar­eas with the Auck­land and Can­ter­bury ar­eas in par­tic­u­lar help­ing to hold up val­ues over­all,’’ said Ms White­head.

‘‘Re­cent trends have con­tin­ued in other main cen­tres with val­ues in Hamil­ton and Tau­ranga re­main­ing rel­a­tively sta­ble although still be­low last year by 1.8 per cent in Hamil­ton and 0.5 per cent in Tau­ranga. Dunedin has seen some volatil­ity in val­ues over the past year but val­ues in gen­eral ap­pear to be de­creas­ing, and are now 2.9 per cent be­low this time last year,’’ said Ms White­head.

‘‘Some of our re­cent pro­vi­sional data sug­gests that val­ues in Auck­land may be lev­el­ling off a lit­tle although it is too early to be sure. In Welling­ton there are also signs that val­ues may be lev­el­ling. In both cen­tres there are in­di­ca­tions that the num­ber of new list­ings may be in­creas­ing which may of­fer fresh choices for po­ten­tial buy­ers. If this turns out to be the case then sales vol­umes should pick up in spring fol- low­ing the tra­di­tional sea­sonal pat­tern which has been largely ab­sent in re­cent years,’’ Ms White­head said.

The av­er­age New Zealand sales price over the last three months was $406,679.

Most provin­cial cen­tres have seen val­ues ei­ther in­crease or re­main steady in the past three months, although com­pared to 12 months ago cur­rent val­ues are still gen­er­ally lower.

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