Average residential property values are rising in almost every part of the country, according to the latest figures from Quotable Value.
The average value of all residential properties throughout the country was $714,747 in January, up 2.5% compared to three months earlier and up 4.4% compared to a year earlier, according to the QV House Price Index.
Average values rose in 92 of the 99 locations covered by the Index compared to three months ago, with the only locations to record declines being the Auckland districts of Coastal North Shore -0.6% and Franklin -0.3% and also Taupo -0.3%, Opotiki -4.5%, Carterton -2.0%, South Wairarapa -0.6% and Kaikoura -1.8%.
In the Auckland region, where the market has previously been subdued for some time, average values rose by 1.7% over the three months to January to $1,049,383.
In the Wellington region average values were up 3.6% over the same period to $756,076 and in Christchurch they were up 2.1% to $510,575.
Dunedin surpassed the other main centres by a substantial margin, with value growth 8.4% in the three months to January, taking the average value in the city to $527,101 which was up a whopping 20.8% compared to a year previously.
The biggest increase in values over the three months to January was in the central North Island town of Kawerau where they increased by 18.8% to $345,572.
The area with the highest average values in the country is the eastern districts of within the boundaries of the former Auckland City Council, which includes such blue ribbon suburbs as St Heliers and Mission Bay and had an average value of $1,560,134 in January, up 2.0% compared to three months earlier.
Going against the trend, values appeared to be almost flat in Queenstown-Lakes, which had the third highest average property value in the country at $1,203, 136, up just 0.1% compared to three months earlier and also up just 0.1% compared to a year earlier.
The table below shows average values throughout the country at the end of January and how much they have changed over the previous three months and 12 months.
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| QV House Price Index | |||
| January 2020 | |||
| Territorial authority | Average current value $ | 12 month change % | 3 month change % |
| Auckland Region | 1,049,383 | 0.3% | 1.7% |
| Wellington Region | 756,076 | 9.0% | 3.6% |
| Main Urban Areas | 818,955 | 3.4% | 2.4% |
| Far North | 486,392 | 13.5% | 3.7% |
| Whangarei | 557,837 | -0.6% | 2.3% |
| Kaipara | 556,641 | -0.1% | 0.1% |
| Auckland - Rodney | 961,284 | 0.1% | 2.8% |
| Rodney - Hibiscus Coast | 942,612 | 1.0% | 3.3% |
| Rodney - North | 982,244 | -0.5% | 2.5% |
| Auckland - North Shore | 1,196,276 | -0.5% | 0.6% |
| North Shore - Coastal | 1,365,012 | 0.2% | -0.6% |
| North Shore - Onewa | 967,807 | 0.0% | 1.6% |
| North Shore - North Harbour | 1,157,803 | -2.8% | 2.3% |
| Auckland - Waitakere | 828,124 | 1.1% | 1.9% |
| Auckland - City | 1,245,323 | 0.9% | 2.4% |
| Auckland City - Central | 1,092,126 | 0.9% | 2.0% |
| Auckland_City - East | 1,560,134 | 0.2% | 2.0% |
| Auckland City - South | 1,111,174 | 1.7% | 2.8% |
| Auckland City - Islands | 1,171,406 | 0.4% | 5.9% |
| Auckland - Manukau | 906,762 | 0.4% | 1.6% |
| Manukau - East | 1,163,189 | 1.4% | 2.4% |
| Manukau - Central | 700,599 | -0.7% | 0.7% |
| Manukau - North West | 789,890 | 0.5% | 1.5% |
| Auckland - Papakura | 714,610 | 2.7% | 1.6% |
| Auckland - Franklin | 672,800 | 0.3% | -0.3% |
| Thames Coromandel | 785,649 | 5.3% | 2.8% |
| Hauraki | 435,867 | 3.1% | 1.0% |
| Waikato | 523,361 | 6.9% | 6.3% |
| Matamata Piako | 494,461 | 5.7% | 1.1% |
| Hamilton | 616,316 | 6.7% | 4.1% |
| Hamilton - North East | 763,452 | 5.5% | 3.4% |
| Hamilton - Central & North West | 563,034 | 5.7% | 2.9% |
| Hamilton - South East | 579,627 | 9.0% | 6.1% |
| Hamilton - South West | 550,389 | 7.2% | 4.3% |
| Waipa | 612,839 | 8.0% | 2.2% |
| Otorohanga | N/A | N/A | N/A |
| South Waikato | 272,771 | 6.2% | 3.5% |
| Waitomo | 244,653 | 12.5% | 6.8% |
| Taupo | 550,567 | 7.4% | -0.3% |
| Western BOP | 687,864 | 5.7% | 3.5% |
| Tauranga | 769,958 | 6.6% | 1.6% |
| Rotorua | 500,263 | 12.4% | 1.8% |
| Whakatane | 504,352 | 8.9% | 4.3% |
| Kawerau | 296,962 | 21.5% | 18.8% |
| Opotiki | 345,572 | 0.6% | -4.5% |
| Gisborne | 407,007 | 25.7% | 7.5% |
| Wairoa | N/A | N/A | N/A |
| Hastings | 561,107 | 11.2% | 3.8% |
| Napier | 582,582 | 8.2% | 3.8% |
| Central Hawkes Bay | 399,528 | 8.7% | 3.4% |
| New Plymouth | 497,632 | 8.6% | 3.4% |
| Stratford | 315,675 | 15.4% | 2.7% |
| South Taranaki | 265,015 | 11.8% | 3.5% |
| Ruapehu | 248,996 | 19.3% | 13.5% |
| Whanganui | 338,982 | 23.7% | 6.2% |
| Rangitikei | 276,961 | 28.0% | 9.7% |
| Manawatu | 448,698 | 22.5% | 6.8% |
| Palmerston North | 489,479 | 14.0% | 4.2% |
| Tararua | 260,715 | 15.8% | 7.6% |
| Horowhenua | 412,565 | 21.1% | 6.2% |
| Kapiti Coast | 640,791 | 10.2% | 4.5% |
| Porirua | 659,853 | 12.7% | 5.0% |
| Upper Hutt | 612,355 | 15.0% | 5.1% |
| Hutt | 651,038 | 14.1% | 3.8% |
| Wellington | 864,753 | 5.7% | 3.0% |
| Wellington - Central & South | 865,515 | 6.7% | 4.0% |
| Wellington - East | 919,207 | 5.0% | 1.4% |
| Wellington - North | 787,787 | 5.5% | 2.6% |
| Wellington - West | 985,238 | 5.5% | 3.8% |
| Masterton | 410,136 | 9.2% | 2.9% |
| Carterton | 449,586 | 8.0% | -2.0% |
| South Wairarapa | 543,382 | 6.4% | -0.6% |
| Tasman | 620,815 | 4.8% | 0.5% |
| Nelson | 650,331 | 6.6% | 2.8% |
| Marlborough | 506,255 | 7.0% | 3.2% |
| Kaikoura | 462,271 | 8.6% | -1.8% |
| Buller | 207,798 | 5.4% | 1.0% |
| Grey | 226,981 | 8.2% | 2.9% |
| Westland | 268,369 | 8.9% | 4.0% |
| Hurunui | 406,478 | 4.1% | 2.9% |
| Waimakariri | 457,729 | 2.1% | 1.1% |
| Christchurch | 510,575 | 2.7% | 2.1% |
| Christchurch - East | 388,353 | 3.1% | 1.3% |
| Christchurch - Hills | 703,901 | 4.2% | 5.0% |
| Christchurch - Central & North | 597,244 | 2.1% | 2.2% |
| Christchurch - Southwest | 482,900 | 2.1% | 1.5% |
| Christchurch - Banks Peninsula | 542,779 | 2.9% | 2.5% |
| Selwyn | 558,728 | 0.7% | 0.3% |
| Ashburton | 365,570 | 2.3% | 1.1% |
| Timaru | 383,948 | 5.3% | 2.7% |
| MacKenzie | 557,541 | 7.9% | 2.6% |
| Waimate | 288,786 | 18.5% | 9.9% |
| Waitaki | 341,785 | 10.4% | 3.7% |
| Central Otago | 569,817 | 11.5% | 4.8% |
| Queenstown Lakes | 1,203,136 | 0.1% | 0.1% |
| Dunedin | 527,101 | 20.8% | 8.4% |
| Dunedin - Central & North | 545,026 | 20.7% | 8.1% |
| Dunedin - Peninsular & Coastal | 488,049 | 22.9% | 8.6% |
| Dunedin - South | 504,716 | 22.1% | 8.9% |
| Dunedin - Taieri | 542,757 | 19.0% | 8.2% |
| Clutha | 269,768 | 25.3% | 10.9% |
| Southland | 346,390 | 17.9% | 6.7% |
| Gore | 262,059 | 9.2% | 4.3% |
| Invercargill | 326,946 | 14.2% | 2.6% |
| Auckland Area | 1,049,383 | 0.3% | 1.7% |
| Wellington Area | 756,076 | 9.0% | 3.6% |
| Main Urban Areas | 818,955 | 3.4% | 2.4% |
| Total NZ | 714,747 | 4.4% | 2.5% |
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