Prop­erty val­ues change

South Waikato News - - Your Local News - LUKE KIRKEBY

The South Waikato has lost its sta­tus as the re­gion with New Zealand’s fastest ris­ing house prices.

The lat­est fig­ures from Quotable Value Lim­ited re­leased on Wed­nes­day sees the South Waikato drop to fourth place be­hind Macken­zie, which ranked num­ber one, the South Wairarapa, which ranked sec­ond, and Kaw­erau, which came in third.

But that doesn’t mean there is a slow­ing down of house prices in the re­gion.

The av­er­age cur­rent value for res­i­den­tial prop­er­ties in the South Waikato now sits at $209,480 which is a rise of 24.4 per cent in the last 12 months and 1.4 per cent in the last three. The av­er­age value is now 28.4 per cent over the 2007 mar­ket peak.

The star of the bunch Macken­zie now has an av­er­age cur­rent value of $486,669 which is a mas­sive rise of 28.3 per cent in the last 12 months and 5.7 per cent in the last three. The value is now 69.9 per cent over the 2007 mar­ket peak.

The South Wairarapa is also per­form­ing well with its av­er­age cur­rent value of $436,400 now 29 per cent over the 2007 mar­ket peak. The value has risen a frac­tion be­low that of Macken­zie with 28 per cent in the last 12 months and by 5.8 per cent in the last three.

While the av­er­age cur­rent value in Kaw­erau con­tin­ues rise it also con­tin­ues to be low at just $190,312. The value is now 19.5 per cent above the 2007 mar­ket peak hav­ing risen by 26.3 per cent in the last 12 months and by 4.7 per cent in the last three.

It will come as no sur­prise that on av­er­age Auck­land con­tin­ues to have New Zealand’s most ex­pen­sive homes. The av­er­age value for the Auck­land Re­gion is now $1,039,066.

Na­tion­wide res­i­den­tial prop­erty val­ues have in­creased by 4.3 per cent in the last 12 months but have only risen by 1.1 per cent dur­ing the last three months.

Na­tion­wide the av­er­age value is now $646,378 which is 56 per cent above the 2007 mar­ket peak. When ad­justed for in­fla­tion the na­tion­wide an­nual in­crease drops slightly to 2.5 per cent and val­ues are now 30.2 per cent above the 2007 peak.

123RF

South Waikato house prices con­tinue to in­crease.

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