South Waikato house prices rise yet again

South Waikato News - - Your Paper, Your Place - LUKE KIRKEBY

South Waikato house prices are only sec­ond to one when it comes to New Zealand’s big­gest in­crease.

The lat­est fig­ures from Quotable Value Limited (QV) show over the last 12 months houses prices in the South Waikato have risen by 32.9 per cent.

That’s New Zealand’s big­gest in­crease be­sides Kaw­erau which has seen house prices rise by 57.5 per cent.

The av­er­age cur­rent value for res­i­den­tial prop­er­ties in the South Waikato now sits at $188, 852 which is an in­crease of 8.2 per cent in the last three months. The value is now 15.7 per cent over the 2007 mar­ket peak.

Al­though they have risen at a faster rate, val­ues in Kaw­erau are still be­low those of the South Waikato.

The av­er­age cur­rent value in Kaw­erau is $177,183 which is a rise of 1.8 per cent in the last three months push­ing the value 9.4 per cent over the 2007 peak.

In nearby Taupo the av­er­age value now sits at $418,130 which has risen by 13.6 in the last 12 months and by 1.2 in the last three to push the value 4.4 per cent over the 2007 peak.

Ro­torua val­ues also con­tinue to rise now sit­ting at $379,865 which is a rise of 28.7 per cent in the last 12 months and 4.8 in the last three. The av­er­age value there is now 29.4 per cent over the 2007 peak.

The Auckland mar­ket has in­creased by 12.8 per cent year on year but quar­terly growth has eased back to just 0.2 per cent over the past three months. The av­er­age value for the Auckland Re­gion is $1,047,699.

The Franklin District has seen the strong­est growth ris­ing by 2.9 per cent since Novem­ber.

Na­tion­wide res­i­den­tial prop­erty val­ues have in­creased by 13.5 per cent over the last 12 months and by 1.4 per cent over the last three. The av­er­age value na­tion­wide is now $631,302 which is 52.4 per cent above the 2007 peak.

When ad­justed for in­fla­tion the na­tion­wide an­nual in­crease drops slightly to 12.0 per cent and val­ues are now 28.8 per cent above the 2007 peak.

All ar­eas in the North Is­land saw val­ues rise in the year since Jan­uary 2016, how­ever val­ues have de­creased over the past three months in parts of Auckland, Hamil­ton, Western Bay of Plenty, Opotiki, Wairoa and South Taranaki.

DONNA WALSH/FAIRFAX NZ

Houses prices again rise in the South Waikato.

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