New high for South Waikato prop­er­ties

South Waikato News - - Community Cookbook - LUKE KIRKEBY

The South Waikato’s 2007 res­i­den­tial prop­erty value peak has now been ex­ceeded with no signs of things slow­ing down any­time soon.

The lat­est fig­ures from Quotable Value Lim­ited (QV) puts the av­er­age cur­rent value of res­i­den­tial prop­er­ties in the South Waikato at $163, 856 which is now 0.4 per cent over the 2007 peak.

Dur­ing the last 12 months that’s a rise of 21.8 per cent and 7.4 per cent in the last three.

But the South Waikato is not alone when it comes to rapidly ris­ing house prices.

In the North Is­land all ar­eas mea­sured saw val­ues in­crease over the last year and many re­gional cen­tres con­tinue to show strong rises with sev­eral notic­ing higher per­cent­age growth than Auck­land which has in­creased by 15.9 per cent.

The ma­jor­ity of the South Waikato’s sur­round­ing dis­tricts con­tinue to ex­pe­ri­ence sig­nif­i­cant in­creases.

The av­er­age price in Taupo now sits at $404, 497 which is an in­crease of 14.3 per cent in the last 12 months, 4.7 per cent in the last three, and 1 per cent over the 2007 peak.

Ro­torua now sits at $347, 966 which is an in­crease of 27.1 per cent in the last 12 months, 9.3 per cent in the last three, and 18.5 per cent over the 2007 peak.

Otoro­hanga now sits at $263, 633 which is an in­crease of 35.5 per cent in the last 12 months, 15.5 in the last three, and only 4.4 per cent off the 2007 peak.

The Wait­omo Dis­trict was one of only two in the North Is­land to no­tice a de­crease in the last three months. A 5.6 per cent drop now places val­ues there at $156, 971 which is 26.1 per cent off the 2007 peak.

All val­ues pale in com­par­i­son to Auck­land how­ever which has now ticked over the one mil­lion dol­lar mark to sit at $1,013,632.

Val­ues there are now a mas­sive 85.5 per cent higher than the pre­vi­ous peak of 2007 which is a rise of 6.1 per cent in the last three months.

When ad­justed for in­fla­tion Auck­land val­ues have risen by 15.4 per cent in the last 12 months and are 57.5 per cent above the 2007 peak.

Na­tion­wide res­i­den­tial prop­erty val­ues have in­creased by 14.6 per cent over the last year and the av­er­age value is now $612, 527 which is an in­crease of 6 per cent over the last three months. They are now 47.8 per cent above the 2007 peak.

When ad­justed for in­fla­tion the na­tion­wide an­nual in­crease drops to 14.2 per cent and val­ues are now 25.6 per cent above the 2007 peak.

Newspapers in English

Newspapers from New Zealand

© PressReader. All rights reserved.