What slowdown? House prices accelerate

 

PHOTO: Photo: RNZ / Claire Eastham-Farrelly

The data reveals house price growth rose 6.4 percent nationally in the year to November, compared with last month’s annual growth of 3.9 percent.

The average price now stands at $664,485.

“Basically, those who were waiting got out there and started purchasing again,” QV National spokesperson Andrea Rush said.

Ms Rush attributed the pick up to a delayed spring surge now that a new government had been confirmed, while demand remained robust due to low interest rates.

She said the pick-up did not include investors, who continued to stay away.

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