Auckland, Hamilton & Tauranga are still seeing a downward trend while Wellington sustains the strongest value growth nationally.
• Further evidence has emerged that Auckland is becoming more of a buyer’s market as house prices flatten across the city.
• Auckland’s avg. value dipped 0.2% in 3 months, w/c is now $1,045,362, while the national avg. rose only 0.6%, w/c is now $631,432, acc. to QV.
• While quarterly figures were flat, year-on-year Auckland values rose 12.3%, QV says.
• The market is still being driven by a high number of sales to investors, surging inward migration, low interest rates, a lack of supply & fewer taxes on property investment.
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