Auckland house values dropped nearly 1 per cent in the latest quarter due to Government and Reserve Bank measures but are picked to shoot away again.
Figures from Quotable Value out at midday showed a 0.7 per cent decrease in Auckland values in the three months till the end of February, when the average value of a residential property stood at $925,656.
Andrea Rush, national spokesperson, attributed the turnaround to regulatory measures.
“The drop in values in the Auckland region is a continuation of the softening in the market seen late last year when measures to curb investors were introduced. However over the past couple of weeks, activity levels have started to pick up across the super city, so it’s possible the drop in values may be short lived,” she said.
James Wilson, QV Homevalue registered valuer, said many different factors were at play.