Housing Market – Nationwide Value Growth Rallies

 

PHOTO: Quotable Value NZ

Nationwide Value Growth Rallies as Summer Arrives for the Housing Market

The latest monthly QV House Price Index shows nationwide residential property values for November increased 6.4% over the past year which is a much faster rate of increase than last month’s annual growth of 3.9%. Values rose by 3.6% over the past three months which is also much faster than last month when the market slowed to a quarterly growth of 0.9% and the nationwide average value is now $664,485 which is 60.4% above the previous market peak of late 2007. When adjusted for inflation the nationwide annual increase drops slightly to 4.4% and values are now 33.9% above the 2007 peak.

The full set of QV House Price Index statistics for all New Zealand for November can be downloaded by clicking this link:

QV House Price Index (HPI) for November 2017.

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