Auckland and Wellington values a tale of two cities, QV
"Nationwide property values have now remained steady for the past six months, after having declined in the six months prior to that. Values are now 1.6% lower than the same time last year, and 5.7% below the market peak of late 2007," said QV Valuations Glenda Whitehead.
She said that while values have remained static at a national level, there continues to be differences between regions, with Auckland and Wellington showing contrasting trends.
"Values in the Auckland area have moved within a narrow range since the beginning of 2009. In the past few months they have begun to edge upwards and are currently 1.2% above January, 0.3% above the same time last year and only 1.8% below the market peak of late 2007."
Values in Hamilton remain 3.5% below the same time last year, while in Tauranga values have levelled in recent months and are now 1.8% below last year.
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