QV May 2011 Report - the regions

 Auckland

QV's Residential Price Index for May shows that property values have increased by 0.3% over the past year in the Auckland region.  There has been a steady increase in values over the past couple of months.

Glenda Whitehead of QV Valuations said; "We have continued to see properties within pockets of the market, typically close to the city or in desirable school zones, continue to get good prices, some above the levels achieved in late 2010." 

"The balance of the market remains steady.  Buyers continue to report a lack of quality listings and many are frustrated by this after long periods of looking.  It appears that some potential vendors are waiting to see some positive signs in their local area before listing.  We have seen several examples where a property sold at a good price in a street, which results in other homeowners on that street listing in the hope of receiving a favourable offer as well" Whitehead said.