Home handyman bargains selling in Wellington

QV's Residential Price Index for August shows that property values in the Wellington region have continued to decrease, by 2.2% since March this year. In contrast, values increased by 4.4% in the seven months to March.

Consequently, values now sit 2% above the same time last year, but 5.4% below the market peak of early 2008 as the graph below illustrates:

QV Valuations valuer Kerry Buckeridge of QV Valuations said; "The residential property marketing in Wellington is currently characterised by softening values and relatively modest sales volumes. This is a continuation of the general trend established over the last few months".

"Many agents continue to find it difficult to get sales across the line, as buyers are thin on the ground and being very cautious. Exceptions appear to be home-handyman bargains at the bottom of the market, as well as very good quality properties at the top of the market," Buckeridge said.