Affordability key to value growth

The property market might be subdued but national values remain firm with QV’s House Price Index for July showing quarterly value growth remaining at 0.1%.

At the same time, it has the annual rate of change increasing slightly from 2.0% at the end of June to 2.2% at the end of July, leaving the average national value at $687,683.

Despite this, many regional areas including the Western Bay of Plenty, Hutt Valley and Porirua are still seeing values that are strongly on the rise, supported by strong regional economies.

Western Bay of Plenty had quarterly value growth of 2.9% which left its average value at $673,793, while Porirua was up by 3.9% to an average of $620,516.