House prices


PHOTO: FIONA GOODALL/GETTY IMAGES QV data shows values sliding in six main centres, with Auckland leading the decline.

House prices in New Zealand’s biggest cities are starting to look shakier, new data shows.

QV has released its latest market update, which shows six of the 15 cities surveyed recorded a drop in prices in the three months to July.

Auckland led the decline, down 2.6 per cent year-on-year and 0.8 per cent over the quarter. On the North Shore, values were down 4.1 per cent over the year.

Tauranga was down 0.3 per cent, Hamilton down 0.1 per cent, Rotorua and Queenstown Lakes down 1.5 per cent, and Napier down 0.2 per cent in three months. In central Wellington, values were down 0.5 per cent but strong performance in the rest of the region helped to push prices up 0.9 per cent over the quarter overall.


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