Market recovery signals consistent with interest rate falls

“It’s a cliché, but upturns obviously have to start somewhere, and the recent emergence of small increases in property values would certainly be consistent with the falls in mortgage rates over the past year or so.”

Figures from Cotality’s hedonic Home Value Index (HVI) show the national median value now sits at $811,662.

Across the main centres, apart from Auckland, house prices lifted by 0.2% last month, the second modest rise in a row, after five consecutive falls over April to August.

Auckland prices fell 0.2%, Hamilton was flat, Tauranga and Wellington both lifted 0.2%, while Christchurch rose 0.4% and Dunedin 0.7%.