QV December 2011 - the regions

Auckland

QV's Residential Price Index for November shows that property values in the Auckland region are 3.4% higher than the same time last year. Values are continuing to increase.

Glenda Whitehead of QV Valuation said; "First home buyers are tending to be a sizable proportion of those active in the market. This is driving demand and value levels in the lower to middle value end of the market. Late spring listings have added more option for buyers but this means they need more time to look at the wider range available to them. This trend is evident on the North Shore, where the first home buyers market was buoyant before the election and has since slowed.

"In the south east most entry level priced proprieties have been picked up by first home buyers rather than investors. In the past couple of weeks, there has also been a noticeable increase in listings which may help the supply and demand levels to balance out, and prices level off.