QV regional snapshot - March 2010

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Auckland
Hamilton
Tauranga
Wellington
Christchurch
Dunedin

Auckland
Property values in the Auckland region increased by 9.9% over the past year (calculated over the three months ending March 2010 in comparison to the same period last year), an improvement on the 8.7% annual growth reported in February. The average sale price for the region decreased from $548,948 to $546,062.

Glenda Whitehead of QV Valuations said; "While the year-on-year statistics continue to look very positive for the Auckland region, a closer look at recent months indicates values in many areas have hit a plateau. Discussion with our valuers supports this flat-lining theory, but scratching deeper into the local markets reveals that the various suburbs and price brackets are acting differently".

"On the North Shore, our valuers note that there appears to be more properties for sale at the moment. This is in contrast to what was happening back in late 2009 or beginning of 2010. The feeling is that in the lower price ranges, it is more of buyers market, while more balance is apparent in the mid ranges.  In lower price brackets it is likely that investors exiting the market are fuelling the number of properties available," Whitehead said.