PHOTO: HAMISH MCNEILLY/STUFF Dunedin was the only main centre with any material value growth in the month, up 1.1 per cent.
New Zealand’s property market has flattened and is likely to stay that way for at least the rest of the year, valuation data provider QV says.
Nationwide, the QV House Price Index dropped 0.1 per cent in May. Dunedin was the only main centre with any material value growth in the month, up 1.1 per cent.
Its 4 per cent growth in the quarter was four times the value growth of any of the other main centres.
Even Wellington, which has had a strong run of price rises, experienced a drop of 1.3 per cent in May, attributable to weakness in Wellington City and less demand for higher-priced properties.
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