Property market


PHOTO: Source: 1 NEWS

New Zealand’s gradually slowing property values have remained firm in July with the annual rate only increasing slightly.

Figures from CoreLogic QV House Price Index show a two per cent increase at the end of June to 2.2 per cent at the end of July.

The organisation’s head of research Nick Goodall said the relatively neutral performance reflected the market which had been gradually slowing since the beginning of 2018.

However he also said it remains supported by low inventory and mortgage interest rates.

“While the economy is continuing to slow down and many forecasts are for this to continue, from a property perspective the outlook is slightly more optimistic. Net mitigation remains high, unemployment low and mortgage interest rates are forecasted to stay low for longer.


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