Slow growth trend takes hold

According to the latest QV House Price Index, the nationwide average value rose by 6.6%, or $41,660, from $627,905 in December 2016 to $669,565 in December 2017.

In the final three months of 2017 the average national value increased by 3.6%.

At the same time, national sales volumes were down on 2016 for every month during the year and between February and October they were in excess of 20% below 2016 levels.

While sales picked up in November in a post-election late spring surge, they still finished the year 10% lower than November 2016 levels.