House price rises waning amid tighter lending coming

CoreLogic’s House Price Index (HPI) says this was down from August price increases (1.6%) and is the fifth consecutive month of easing growth rates.

The HPI shows the average value of houses countrywide increased from $937,148 at the end of August to $$950,229 at the end of September. These figures are based on sales over the previous three months.

In the Auckland region the average house value rose more than $9,000 to $1,346,964, in Wellington region average values rose to $1,082,993 and in Christchurch to $666,371.

With most of the country, aside from Auckland, at alert level two for the majority of September, market activity has started to return, says Nick Goodall, CoreLogic’s research head.