PHOTO: Core Logic
According to the CoreLogic QV February House Price Index results, property values in New Zealand have grown by 0.7% over the summer season, with the annual growth rate lifting very marginally from 2.9% in January to 3.0% last month.
Values in Auckland remain constrained as the index moved sideways in February, resulting in an annual drop of -0.9%. Head of Research, Nick Goodall says that “Low affordability remains a significant handbrake on Auckland property values and while we have seen signs of vendors adjusting their expectations to get a sale, this approach is not citywide. Meanwhile, around the rest of the country there remains a shortage of properties listed for sale, which is ensuring that some price pressure remains.”
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