Prices rise for houses
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.