No market rebound expected post lockdown

After last year’s lockdown property values skyrocketed, but in the past four months the quarterly rate of price increases have slowed, the QV House Price Index shows.

The average value increased 3.3% nationally over the past three-month period to the end of August, down from the 4.3% quarterly growth in July, with the national average value now sitting at $963,046.

This represents an increase of 26.6% year-on-year, up slightly from 26.4% last month.

In the Auckland region, the average value now sits at $1,368,252, up 2.4% over the last three-month period, with annual growth of 24%, up a fraction from July’s year-on-year growth of 23.7%.