QV says house prices up 1.9% in quarter

They show the national house index rose 1.9% in the June quarter, down from the 5% increase in the March quarter.

Mind you, the March quarter figures were revised from the previously published 4% rise, and the latest rise makes it 12 quarters in a row of price increases.

And the increase for the year ended June was 22%, up from the 15.5% increase in the previous year.

Significantly, among the regions, Nelson become one of the first areas in the past two years to record a quarterly decline, down 2.5% in the June quarter. "The decrease in Nelson is a result of the phenomenal, but unsustainable, growth experienced over the past two years," says QV Valuations spokesman Blue Hancock.

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