Raine & Horne Kumeu - Hobsonville Blog

Residential property values are bouncing along the bottom and are showing little or no growth, according to Quotable Value (QV).

The latest QV House Price Index shows average home values decreased by 0.8% nationally over the three months to the end of October compared with a 1.6% average decline in the three months to the end of September, and a 2% drop in the three months to the end of August.

The country's average dwelling value is now $902,231, just 0.3% ($2839) less than at the start of the year. 

New Zealand's housing market remains largely flat overall, with essentially no growth to speak of during the month of October itself, neither up nor down, and only a slight decline nationally this quarter of less than 1% on average, 

Home values have flattened out again after some more sizeable yet still relatively modest reductions throughout the winter months, but they are still showing no signs of taking off anytime soon,

This is reflective of a housing market that is still severely constricted by strong economic headwinds, despite recent interest rate reductions, which will take some time to phase through.

Likewise, the latest housing data from QV also show that home values have continued to level out across most of New Zealand's main urban areas, with the average three month rolling rate of reduction slowing in Auckland at -0.8%, Christchurch -0.2%, Hamilton -0.6%, Tauranga -1.6% and Dunedin -0.1%."

Heightened job insecurity is being more keenly felt in City centres. 

Refer to the prices achieved in the area property statistics page for all sales over the month by all agents.

If you are considering listing your property for sale it costs no more to use an experienced agent with a proven track record. At Raine & Horne Kumeu-Hobsonville we offer a very sensible 2.95% commission starting point and an excellent and tailored advertising program to ensure your satisfaction. 

Call Graham Mcintyre for a pre-sale check list, a market overview in your immediate area and a no obligation chat on 0276320421 or 0800 900 700. Graham McIntyre, Country Living Realty Limited t/a Raine and Horne Kumeu - Hobsonville