2017: The year the housing market changed

 

PHOTO:  SUPPLIED – Napier had the fastest annual value growth over 2017.

2017 was the year New Zealand’s housing market slowed, new data from QV shows.

It has released its statistics for the full year, including December, which show the number of houses sold was down on 2016 every month, and more than 20 per cent down each month between February and October.

The nationwide average property value increased 6.6 per cent from $627,905 in December 2016 to $669,565 in December 2017. That’s about half the rate of growth experienced the year before.

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