PHOTO: ROBERT KITCHIN/STUFF Wellington’s values were up 5.4 per cent in the quarter just ahead of Dunedin’s at 4.9 per cent.
There is strength in property markets across the country, the latest data from QV shows, and that is predicted to continue into the future.
It has released its latest QV House Price Index, which shows New Zealand house prices were up 5.3 per cent year-on-year in February and 2.6 per cent over the quarter.
For the third consecutive month, all 16 major cities QV monitors reported quarterly price growth.
The national average residential property value is now $722,475.
In Auckland, the average value hit $1,058 million, up 1.8 per cent over three months.
“February data confirms that strength is returning to the Auckland market after a relatively quiet two to three years. Sales activity has picked up significantly in Auckland as well as around most parts of the country as more buyers are committing to property decisions in an already congested market. As a consequence we’re seeing more buyers from across the property spectrum competing for limited stock which is forcing prices to rise,” said QV general manager David Nagel
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