PHOTO: PETER MEECHAM/STUFF Central Auckland house prices are experiencing the most weakness.
Weakness in Auckland house prices weighed heavily on the rate of property value growth across New Zealand in June, new data shows.
QV’s latest market update shows the nationwide rate of residential property value growth slowed to 2 per cent last month, from 3.5 per cent a year earlier.
But that was heavily influenced by a drop in Auckland, where prices were down 2.7 per cent year-on-year. Prices in the central suburbs were down 3.3 per cent, Manukau down 1.5 per cent, and Rodney down 1.3 per cent. Values in other parts of Auckland increased slightly.
Hamilton’s growth rate slowed to 4.7 per cent, while Wellington’s prices lifted 7.9 per cent, and Dunedin’s 12.2 per cent. Christchurch values were up only slightly year-on-year.
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