Property record

Property values outside Auckland have reached a record high, the Real Estate Institute of New Zealand’s (REINZ) latest House Price Index shows. The index — which measures changing values of property in the market — rose to 2761 in July, up 1.5 per cent from a year earlier. Excluding Auckland, the measure rose to a record high, up 5.9 per cent at 2739. The Auckland index fell 3.3 per cent from a year ago to 2789, but REINZ chief executive Bindi Norwell says the three-month trend is up 0.5 per cent, showing “signs of green shoots”. “This is the first time in eight months that we’ve seen the number of properties sold around the country increase on an annual basis suggesting that we’re starting to see some early signs of growth,” Norwell said.