Regional snapshot: QV

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Auckland
Hamilton
Tauranga
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Auckland
Property values in the Auckland region declined by 9% over the past year, an improvement on the 10.1% annual decline reported in March.

The average sale price for the region decreased from $495,892 to $486,986. The Auckland region is down 10.4% from its peak in December 2007.

Glenda Whitehead of QV Valuations says: "February through to April has seen much healthier levels of activity in the under $500,000 price bracket throughout the region.  The most active within this market have included first home buyers, those trading up or sideways, and investors. With this increased activity it is felt that value levels have now flattened off in this bracket, for the time-being at least. Low interest rates have been a driver for many to step back into the market, investment returns are starting to look better, and there is the perception that the market is near or at the bottom.