QV sees value stability spread
"Nationwide property values have now been relatively stable for several months after falling slightly throughout most of 2010. Values are now 1.9% lower than the same time last year, and 5.8% below the market peak of late 2007," said QV research director Jonno Ingerson.
"The leveling of nationwide values was initially due to a flattening of values in the Auckland market, but there are now increasing signs of values stabilising in many other areas also."
Ingerson said in Auckland, values had remained within a narrow band for the last 18 months, and had been slightly variable over recent months.
"There is little evidence at this stage of values moving significantly up or down. Currently values in Auckland are 0.5% below the same time last year," he said.
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