Residential property values showed sustained growth throughout the country over spring, according to the latest figures from Quotable Value (QV).
According to the QV House Price Index, the average value of all dwellings throughout New Zealand was $704,072 for the three months to the end of November. That's up 2.2% compared to the three months ended August, and means average values across the entire country have risen 3.3% over the last 12 months.
Even values in Auckland, where the market was particularly sluggish over winter, are on the rise. The average value of all dwellings in the Auckland region was $1,038,477 over the three months to November, up 1.3% compared to the previous three months. But that's still down 1.2% compared to 12 months ago.
All districts within the Auckland region recorded positive value growth over the three months to November, ranging from 0.4% on the Hibiscus Coast to 2.5% on North Shore - Onewa.
In Wellington the average value of homes increased by 3% over the three months to November, in Christchurch it's up by 1.7%, while Dunedin's average value is up a whopping 8.6% for the three months ended November, and up 17.1% compared to 12 months ago.
The biggest increases in average values over the three months to November have tended to be in rural districts and smaller centres, led by Whanganui +12.1%, Ruapehu +11.8%, Peninsular & Coastal Dunedin +11.4% and Rangitikei +11.3%.
Just seven towns or districts went against the trend and recorded declines in average values in the three months to November - Whangarei -0.2%, Matamata Piako -0.4%, Western Bay of Plenty -0.1%, Kawerau -2.9%, Central Hawke's Bay -0.6%, Hurunui -0.1% and Waimate -3.7%.
The table below shows the average dwelling values in all districts and their percentage changes over three and 12 months.
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| QV House Price Index | |||
| November 2019 | |||
| Territorial authority | Average* current value $ | 12 month change % | 3 month change % |
| Auckland Region | 1,038,477 | -1.2% | 1.3% |
| Wellington Region | 735,507 | 7.3% | 3.0% |
| Main Urban Areas | 807,024 | 2.0% | 2.0% |
| Total NZ | 704,072 | 3.3% | 2.2% |
| Whangarei | 543,998 | -3.4% | -0.2% |
| Kaipara | 562,222 | 2.5% | 2.4% |
| Auckland - Rodney | 940,524 | -0.3% | 0.7% |
| Rodney - Hibiscus Coast | 917,512 | -0.4% | 0.4% |
| Rodney - North | 963,374 | -0.2% | 0.8% |
| Auckland - North Shore | 1,195,196 | -1.7% | 1.9% |
| North Shore - Coastal | 1,371,335 | -0.8% | 1.5% |
| North Shore - Onewa | 961,191 | -1.8% | 2.5% |
| North Shore - North Harbour | 1,151,422 | -3.6% | 2.0% |
| Auckland - Waitakere | 816,228 | -1.2% | 0.5% |
| Auckland - City | 1,230,995 | -0.7% | 1.6% |
| Auckland City - Central | 1,079,467 | -1.0% | 1.9% |
| Auckland_City - East | 1,548,858 | -0.6% | 1.3% |
| Auckland City - South | 1,093,795 | -0.3% | 1.5% |
| Auckland City - Islands | 1,151,060 | -1.7% | 1.3% |
| Auckland - Manukau | 894,401 | -1.4% | 1.1% |
| Manukau - East | 1,136,387 | -2.0% | 0.9% |
| Manukau - Central | 698,924 | -1.1% | 2.2% |
| Manukau - North West | 780,142 | -0.5% | 0.8% |
| Auckland - Papakura | 705,974 | 1.0% | 1.5% |
| Auckland - Franklin | 674,713 | 0.4% | 0.6% |
| Thames Coromandel | 776,137 | 2.9% | 1.9% |
| Hauraki | 442,841 | 6.9% | 1.8% |
| Waikato | 500,203 | 3.3% | 3.0% |
| Matamata Piako | 490,916 | 7.3% | -0.4% |
| Hamilton | 596,912 | 5.5% | 1.5% |
| Hamilton - North East | 741,551 | 4.4% | 1.1% |
| Hamilton - Central & North West | 553,099 | 7.0% | 2.2% |
| Hamilton - South East | 549,406 | 5.7% | 1.1% |
| Hamilton - South West | 534,227 | 5.4% | 1.8% |
| Waipa | 602,994 | 7.6% | 1.6% |
| Otorohanga | 365,667 | 25.4% | 2.6% |
| South Waikato | 267,781 | 9.2% | 3.9% |
| Waitomo | 234,247 | 6.1% | 4.7% |
| Taupo | 550,273 | 11.9% | 4.8% |
| Western BOP | 668,227 | 4.3% | -0.1% |
| Tauranga | 760,560 | 6.5% | 2.3% |
| Rotorua | 493,138 | 12.5% | 4.5% |
| Whakatane | 498,375 | 7.8% | 3.8% |
| Kawerau | 254,709 | 5.3% | -2.9% |
| Opotiki | 334,427 | 11.8% | 4.4% |
| Gisborne | 393,475 | 21.6% | 6.7% |
| Wairoa | N/A | N/A | N/A |
| Hastings | 555,471 | 19.3% | 4.6% |
| Napier | 575,066 | 10.2% | 3.9% |
| Central Hawkes Bay | 382,992 | 9.3% | -0.6% |
| New Plymouth | 489,583 | 7.2% | 4.2% |
| Stratford | 309,464 | 14.2% | 6.0% |
| South Taranaki | 263,282 | 14.9% | 5.3% |
| Ruapehu | 251,701 | 25.4% | 11.8% |
| Whanganui | 330,754 | 19.8% | 12.1% |
| Rangitikei | 266,998 | 13.4% | 11.3% |
| Manawatu | 431,787 | 18.4% | 5.6% |
| Palmerston North | 476,516 | 13.7% | 4.7% |
| Tararua | 256,099 | 16.9% | 6.9% |
| Horowhenua | 397,673 | 19.1% | 5.4% |
| Kapiti Coast | 628,659 | 9.6% | 3.8% |
| Porirua | 633,093 | 8.2% | 2.1% |
| Upper Hutt | 588,796 | 15.1% | 3.8% |
| Hutt | 628,290 | 9.7% | 4.5% |
| Wellington City | 847,555 | 5.2% | 2.5% |
| Wellington - Central & South | 843,301 | 5.0% | 3.3% |
| Wellington - East | 900,189 | 4.0% | 3.1% |
| Wellington - North | 774,929 | 5.5% | 1.7% |
| Wellington - West | 967,184 | 6.6% | 2.2% |
| Masterton | 403,048 | 11.0% | 3.4% |
| Carterton | 464,308 | 14.4% | 6.4% |
| South Wairarapa | 547,348 | 9.0% | 2.1% |
| Tasman | 620,097 | 5.8% | 1.8% |
| Nelson | 637,766 | 6.7% | 1.6% |
| Marlborough | 489,732 | 4.2% | 1.4% |
| Kaikoura | N/A | N/A | N/A |
| Buller | 210,479 | 9.6% | 3.7% |
| Grey | 223,185 | 5.7% | 1.8% |
| Westland | 266,504 | 6.7% | 5.9% |
| Hurunui | 394,759 | 3.3% | -0.1% |
| Waimakariri | 453,150 | 1.4% | 0.3% |
| Christchurch | 504,952 | 1.9% | 1.7% |
| Christchurch - East | 381,839 | 1.9% | 1.0% |
| Christchurch - Hills | 688,156 | 3.1% | 3.0% |
| Christchurch - Central & North | 594,335 | 2.2% | 2.0% |
| Christchurch - Southwest | 477,497 | 0.6% | 1.0% |
| Christchurch - Banks Peninsula | 541,760 | 2.8% | 5.8% |
| Selwyn | 557,791 | 1.1% | 0.3% |
| Ashburton | 364,842 | 2.8% | 2.9% |
| Timaru | 376,095 | 3.3% | 1.9% |
| MacKenzie | 584,456 | 8.4% | 9.4% |
| Waimate | 269,085 | 11.5% | -3.7% |
| Waitaki | 341,137 | 11.8% | 6.3% |
| Central Otago | 554,303 | 10.0% | 3.8% |
| Queenstown Lakes | 1,207,868 | 2.9% | 2.2% |
| Dunedin | 505,461 | 17.1% | 8.6% |
| Dunedin - Central & North | 522,839 | 15.6% | 9.1% |
| Dunedin - Peninsular & Coastal | 470,351 | 18.3% | 11.4% |
| Dunedin - South | 479,695 | 16.6% | 6.7% |
| Dunedin - Taieri | 523,808 | 18.3% | 8.1% |
| Clutha | 247,219 | 11.6% | 4.7% |
| Southland | 339,529 | 18.9% | 5.6% |
| Gore | 255,989 | 11.2% | 5.7% |
| Invercargill | 337,284 | 19.3% | 9.3% |
*The average value of all developed residential properties in the area.
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