House price inflation accelerates yet again

Average growth in house prices nationally was up 14.3% in July from July last year to $310,420. That compares with the 14.2% annual increase in June, the 13.5% rise in May, 12.5% rise in April and 12.1% rise in March when it had appeared that house price inflation was abating.

"There are still more areas throughout the country where property values are growing at increasing rates versus those that are slowing," says QV's Blue Hancock.

In particular, some cities are still showing strong growth including Hamilton were the average price was up 24.8% on July last year and Dunedin which was up 21.4%.

Hancock says a number of provincial areas are also buoyant including New Plymouth, up 35.4% in July from July last year, Gisborne, up 28.9%, Whangarei, up 25.2% and Rotorua, up 20.5%.

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