QV July 2011 Report – the regions

Auckland

QV's Residential Price Index for July shows that property values in the Auckland region are 1.9% higher than the same time last year. Values continue to increase although not as quickly as last month.

Glenda Whitehead of QV Valuation said; "Auckland is an extensive region and while values sit 1.9% above a year ago, when you look at each area this reflects too little for some and too much for others. We are seeing local influences at play within each of the former cities, their suburbs, that even go down to street and property level. These are driving much of the shift in value with most of the upward price movement within the former Auckland City."

"Values for former Auckland City show an annual growth close to 3%. Whilst there has been some steady growth our valuers have seen some spiky values being achieved for individual properties that tick all the boxes. While other more homogenous type properties or those with faults have shown little value movement" Whitehead said.