Auckland leads nationwide property values higher

QV research manager Jonno Ingerson

"Nationwide property values increased in June after previously remaining relatively stable for several months," said QV research director Jonno Ingerson.

"The gap in values between June this year and last year has closed to only -0.9%, and values are now 5.2% below the market peak of late 2007."

Ingerson said much of the rise in nationwide values can be attributed to increases in Auckland, where apart from a minor hiccup in March values have increased by over 2% since January.

"Across the wider Auckland area values are now 1.4% above last year and only 1% below the previous market peak of late 2007. There is variability across the Supercity with the Manukau area being more or less stable over the past three months, while North Shore and Waitakere have increased modestly. In what used to be called Auckland city increases since January mean that values are now at their highest level ever, currently sitting 0.7% above the previous market peak of late 2007," Ingerson said.