House price rise slow and steady: QV
But research director Jonno Ingerson said the rate of increase was still relatively slow – about 5% per year compared to the up to 15% that was seen last decade.
““The current value increase is also being driven largely by Auckland and Canterbury. If those two areas are excluded then values across the rest of the country have only increased by around 1.5% over the past year. Furthermore, although values are now just above the 2007 peak, when adjusted for inflation they remain 12% lower.”
He said there was caution among buyers, who were doing research and acting carefully.
Values in the wider Auckland area have risen 2.8% over the past three months and 7.2% over the past year. The former Auckland City has had the steepest price rise, up 8.4% for the year. Manukau and North Shore follow close behind, on 6.8% and 6.3% respectively.
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