Property market slowdown expected to continue as wage subsidy, mortgage relief packages end | NEW ZEALAND - Property News AU/NZ | propertynoise.co.nz & propertynoise.com.au

PHOTO: NZ’s housing market

New Zealand’s housing market resurgence appears to be slowing down, according to the latest QV House Price Index.

With the Government’s wage subsidy and bank mortgage relief packages ending soon, the property market could still be in for some hard times ahead.

Auckland, Queenstown and Dunedin house values have fallen over the past three months, with Queenstown Lakes District seeing the biggest drop of 4.2 per cent.

QV data saw the average house value nationally increased just 0.4 per cent over the past three months – down from 1.3 per cent in June, with the average value now sitting at just over $739,000.

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The average value in the Auckland Region sits at $1,077,000, which is down 0.2 per cent over the last quarter, with annual growth at 5.1 per cent, down slightly from June’s year-on-year growth of 5.4 per cent.