House prices cooling: QV
Its latest monthly property value index shows nationwide residential values for February have increased 9.3% over the past year, and 1.8% over the past three months.
They are now 13.1% above the previous market peak of late 2007. When adjusted for inflation the nationwide annual increase drops slightly to 7.5% and values remain below the 2007 peak by -2.6%.
The Auckland market has increased 14% year-on-year and values are 27.3% above the previous peak. When adjusted for inflation, values are up 12.1% over the past year and are 9.6% above the 2007 peak.
But spokeswoman Andrea Rush said last month was the first sign that prices had started to level off. They are up 1.5% over the past three months in Auckland.
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