Values fall as investors leave market
Nationwide property values increased by 3.0% year-on-year, once adjusted for inflation, and by just 1.2% over the past three months, according to the latest QV House Price Index.
This was the slowest annual growth rate since August 2012 – although it still leaves the average national value at $641,648 in August, as compared to $641,280 in July.
Auckland saw its values increase by 1.0% year-on-year, once adjusted for inflation, and by just 0.2% over the past three months, which left the region’s average value at $1,041,957.
Annual values in the Auckland region are now growing at the slowest pace since October 2011.
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