QV House Price Index


PHOTO: The latest Quotable Value house price index

Changes to the Official Cash Rate are yet to stimulate the housing market as hoped, according to QV.

The latest Quotable Value house price index barely changed in the past three months to September rising 0.6 per cent.

Annual growth remained steady at 2.4 per cent, with the average national house value now $691,460.

“The residential markets of our main cities continue to struggle with Auckland, Hamilton, Tauranga, Wellington and Christchurch all showing a three month value change of less than 1 per cent. Dunedin is the only exception, still hanging in there at 2.9 per cent quarterly value growth,” QV general manager David Nagel said.