Latest house price updates

Auckland

QV's Residential Price Index for February shows that property values increased in the last month but remain 0.4% below the same time last year in the Auckland region. Different parts of the Auckland area are continuing to trend differently, but generally remain fairly stable.

Glenda Whitehead of QV Valuation said "Within the Auckland region there is a sense of stability.  This is reflected in the fact that the values in each area are close to the same levels last month and very similar to what they were a year ago.   The only exception is Auckland City values, which rose over the past month, and are now slightly higher than the same time last year".

"There appears to be increased demand for quality new listings in the former Auckland City. Following some successful auctions and quick sales, there is a feeling that the short supply of quality listings is driving this market positively. This may be causing a localised trend" Whitehead said.