PHOTO: One News New Zealand

Nationwide house prices are holding firm despite a winter slowdown in sales, but growth in Auckland and Wellington is at a virtual standstill. The latest monthly QV House Price Index shows nationwide residential property values in May were up 6.9 per cent on a year earlier. When adjusted for inflation, the nationwide annual increase was 5.8 per cent. V

Values rose 0.8 per cent over the past three months and the national average value is now $677,996. “As anticipated, nationwide sales volumes are down as we enter the usual winter slowdown although value levels are holding. This is typical of this time of year, as many people put off selling their property until the warmer months,” said QV General Manager David Nagel.