Auckland prices 10% above last peak: QV
QV’s latest statistics, released today, follow Real Estate Institute data yesterday.
QV statistics are based on legal transactions and represent sales conducted four to eight weeks in the past, so the report is based on a three-month moving average.
QV’s research director Jonno Ingerson said the increase in values was driven primarily by Auckland and Canterbury, where supply was not keeping pace with demand.
“Outside Auckland and Canterbury, the property market remains subdued as buyers are generally cautious and there are few quality properties on the market for them to choose from.”
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