Mixed post peak value bag - REINZ

However, the index also shows that values remain in positive territory and some regions are still seeing strong value growth, with Southland leading the charge in June.

The Southland region had the strongest value growth in the country, with a 20.2% increase to a new record high index level of 3,049.

That’s as compared to the annual increase of 10.5% seen by the region in June 2018.

It was followed by the Manawatu/Wanganui region with an annual growth rate of 18.3% to 3,089, up from the 9.8% increase it saw in June 2018, and the Gisborne/Hawke’s Bay region with a 9.1% annual increase to 2,738.

REINZ chief executive Bindi Norwell says Southland was clearly the shining star in June and that, over the last two years, there’s only been two months where the region hasn’t experienced double-digit year-on-year growth.

“With such strong level of growth for so long now, this is certainly an area to watch over the coming months."

Looking around the country, 11 out of 12 regions saw an annual increase in their index level – although the index levels in most are down from their peak.

[Take a look at the REINZ House Price Index table here.]