Property Market Continues to Slow

The main cities have again seen slight decreases in the growth rate, Hamilton down to 19.2%, Christchurch 11.3%, Wellington 10.5% and Auckland 6.7%. Dunedin showed the lowest growth of 5.8%. In the provincial cities Whangarei 23.0%, Gisborne 24.2%, Invercargill 14.0% and New Plymouth 11.0% all reported decreases in the growth rate for the period ending June 2006. The following regional areas showed a consistent growth rate to that reported in May; Masterton 22.1%, Marlborough 10.9%, Western Bay of Plenty 18.8%, Manawatu 16.7% and Tasman 7.8%.