Prices rise for houses

South Waikato News - - Farming - LUKE KIRKEBY

House prices in the South Waikato have yet again risen ac­cord­ing to Quotable Value Lim­ited’s (QV) lat­est in­dex fig­ures.

The av­er­age cur­rent value of res­i­den­tial prop­er­ties in the South Waikato now sits at $174,620. That is an in­crease of 23.4 per cent in the last 12 months and 9.2 in the last three months.

The value is now 7 per cent over the 2007 market peak.

In the North Is­land all ar­eas saw dou­ble digit value growth over the last year since Oc­to­ber 2015, with none show­ing a de­crease in value.

The av­er­age value in nearby Taupo now sit at $413,176 which is an in­crease of 16.8 per cent in the last 12 months. In Ro­torua the av­er­age value sits at $362,583 which is an in­creased of 25.9 per cent in the last 12 months.

Na­tion­wide, how­ever it ap­pears prices rises are slow­ing down with the in­dex show­ing res­i­den­tial prop­erty val­ues for Oc­to­ber have in­creased by only 12.7 per cent over the last year which is the slow­est rate since May.

Val­ues rose by 3.3 per cent over the past three months and are now 50.2 per cent above 2007.

When ad­justed for in­fla­tion the in­crease drops to 12.4 per cent and val­ues are now 27.4 per cent above 2007. The av­er­age value na­tion­wide is now at $622,309.

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