Quotable Value sees housing values starting to flatten throughout New Zealand, with average values starting to decline in some regions.
The average values of homes throughout the country was $739,151 in July, up 7.5% compared to a year earlier, but up only 0.4% over the previous three months.
In Auckland the average value of homes was $1,077,237 which was up 5.1% compared to July last year, but down 0.2% compared to three months earlier.
Within the Auckland region, average value changes were mixed, with rises on the northern and southern ends of the city and falls on the North Shore and central Auckland (see table below).
Values were mostly also weaker at the bottom of the South Island, with values in Queenstown-Lakes declining by 4.2% over the three months to July.
"The QV house price data continues to reflect a gradual decline in quarterly growth in July, with the vast majority of the big towns we monitor showing a reduction in the rate of growth since June," QV General Manager David Nagel said.
"There has been plenty of hype around demand and we're still seeing well attended auctions and open homes, especially for the more affordable housing stock.
"This has resulted in strong transaction numbers in the past few weeks leaving limited stock.
"But there's also a lot of properties that aren't selling as buyers exercise both caution and patience as they search for a suitable property," Nagel said.
See the table below for average property values throughout the country.
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| QV Housing Value Index - July 2020 | ||||
| Territorial authority | Average current value | 12 month change % | 3 month change % | |
| Auckland Region | $1,077,237 | 5.1% | -0.2% | |
| Main Urban Areas | $844,496 | 6.9% | 0.2% | |
| Wellington Region | $788,804 | 10.7% | 0.4% | |
| Total NZ | $739,151 | 7.5% | 0.4% | |
| Far North | $488,055 | 5.5% | 0.1% | |
| Whangarei | $578,488 | 5.6% | 0.6% | |
| Kaipara | $604,073 | 9.0% | 3.9% | |
| Auckland - Rodney | $987,639 | 5.3% | 0.4% | |
| Rodney - Hibiscus Coast | $962,734 | 4.9% | 0.3% | |
| Rodney - North | $1,012,172 | 5.6% | 0.5% | |
| Auckland - North Shore | $1,240,917 | 5.9% | -0.7% | |
| North Shore - Coastal | $1,407,795 | 5.3% | -1.4% | |
| North Shore - North Harbour | $1,208,350 | 5.5% | -0.1% | |
| North Shore - Onewa | $1,011,821 | 7.6% | 0.1% | |
| Auckland - Waitakere | $857,302 | 5.9% | 1.3% | |
| Auckland - City | $1,260,285 | 4.2% | -1.5% | |
| Auckland City - Central | $1,098,329 | 4.7% | -2.2% | |
| Auckland City - Islands | $1,136,301 | 2.1% | -1.5% | |
| Auckland City - South | $1,133,417 | 5.5% | -0.6% | |
| Auckland_City - East | $1,581,159 | 2.9% | -1.8% | |
| Auckland - Manukau | $945,659 | 6.4% | 1.8% | |
| Manukau - Central | $728,942 | 6.2% | 1.4% | |
| Manukau - East | $1,209,430 | 6.8% | 1.8% | |
| Manukau - North West | $826,654 | 6.4% | 1.7% | |
| Auckland - Papakura | $729,099 | 3.9% | 0.6% | |
| Auckland - Franklin | $704,341 | 4.6% | 1.5% | |
| Thames Coromandel | $809,281 | 7.1% | -1.3% | |
| Hauraki | $458,513 | 8.8% | -2.3% | |
| Waikato | $535,435 | 9.8% | 2.3% | |
| Matamata Piako | $527,194 | 7.4% | 4.2% | |
| Hamilton | $635,289 | 8.6% | 0.9% | |
| Hamilton - Central & North West | $591,984 | 10.1% | 0.6% | |
| Hamilton - North East | $774,455 | 5.9% | 0.0% | |
| Hamilton - South East | $593,683 | 10.3% | 2.1% | |
| Hamilton - South West | $570,837 | 9.1% | 1.1% | |
| Waipa | $646,980 | 9.9% | -0.1% | |
| South Waikato | $321,517 | 25.2% | 4.8% | |
| Waitomo | $257,736 | 16.7% | 4.2% | |
| Taupo | $572,029 | 9.4% | 1.5% | |
| Western BOP | $699,186 | 3.8% | -1.4% | |
| Tauranga | $794,004 | 7.5% | 2.5% | |
| Rotorua | $537,212 | 13.9% | 6.7% | |
| Whakatane | $526,461 | 10.3% | 2.1% | |
| Kawerau | $289,449 | 10.8% | -0.6% | |
| Opotiki | $366,291 | 14.7% | -2.4% | |
| Gisborne | $436,520 | 20.1% | 0.4% | |
| Wairoa | $238,276 | 12.6% | -7.2% | |
| Hastings | $593,471 | 13.4% | 0.9% | |
| Napier | $618,867 | 11.6% | 1.5% | |
| Central Hawke's Bay | $437,523 | 16.0% | 8.7% | |
| New Plymouth | $513,802 | 10.3% | 0.7% | |
| Stratford | $350,626 | 21.9% | 6.1% | |
| South Taranaki | $289,871 | 18.2% | 1.5% | |
| Ruapehu | $281,031 | 23.6% | 12.4% | |
| Whanganui | $371,577 | 20.6% | 1.0% | |
| Rangitikei | $314,955 | 31.4% | 10.2% | |
| Manawatu | $470,276 | 17.9% | 1.4% | |
| Palmerston North | $515,832 | 14.8% | 1.7% | |
| Tararua | $297,730 | 22.2% | 9.0% | |
| Horowhenua | $443,891 | 18.5% | 0.6% | |
| Kapiti Coast | $674,962 | 11.7% | 1.5% | |
| Porirua | $696,516 | 12.2% | 0.8% | |
| Upper Hutt | $644,816 | 13.6% | 2.4% | |
| Hutt | $686,773 | 15.4% | 0.6% | |
| Wellington | $895,084 | 8.2% | 0.0% | |
| Wellington - Central & South | $886,537 | 8.7% | 0.6% | |
| Wellington - East | $950,439 | 7.3% | -1.4% | |
| Wellington - North | $823,986 | 8.2% | 0.3% | |
| Wellington - West | $1,011,852 | 8.2% | -1.1% | |
| Masterton | $444,998 | 14.3% | 4.3% | |
| Carterton | $483,968 | 11.5% | 1.1% | |
| South Wairarapa | $582,213 | 10.2% | -0.8% | |
| Tasman | $645,722 | 6.0% | 1.5% | |
| Nelson | $662,839 | 6.4% | 0.5% | |
| Marlborough | $519,704 | 7.2% | 0.7% | |
| Buller | $206,746 | 5.0% | -3.4% | |
| Grey | $243,731 | 10.4% | 5.7% | |
| Westland | $286,968 | 13.3% | 6.9% | |
| Hurunui | $406,267 | 2.8% | -0.8% | |
| Waimakariri | $465,288 | 3.3% | 0.6% | |
| Christchurch | $519,233 | 4.3% | 0.5% | |
| Christchurch - Banks Peninsula | $540,548 | 3.7% | -2.7% | |
| Christchurch - Central & North | $608,540 | 3.7% | 0.9% | |
| Christchurch - East | $392,520 | 4.0% | 0.1% | |
| Christchurch - Hills | $708,724 | 5.1% | 0.1% | |
| Christchurch - Southwest | $493,973 | 4.6% | 0.5% | |
| Selwyn | $567,844 | 1.6% | 0.6% | |
| Ashburton | $385,126 | 7.6% | 3.3% | |
| Timaru | $391,900 | 6.6% | 1.3% | |
| MacKenzie | $597,366 | 15.8% | -0.7% | |
| Waimate | $283,375 | 1.5% | -2.4% | |
| Waitaki | $361,100 | 12.6% | -0.1% | |
| Central Otago | $590,518 | 8.4% | -0.5% | |
| Queenstown Lakes | $1,165,187 | -0.9% | -4.2% | |
| Dunedin | $550,820 | 20.0% | -0.3% | |
| Dunedin - Central & North | $563,910 | 19.3% | -0.5% | |
| Dunedin - Peninsular & Coastal | $502,533 | 19.6% | 0.8% | |
| Dunedin - South | $525,167 | 19.8% | -2.2% | |
| Dunedin - Taieri | $578,301 | 20.6% | 0.9% | |
| Clutha | $300,854 | 26.5% | 11.8% | |
| Southland | $377,670 | 17.8% | 6.3% | |
| Gore | $290,651 | 21.1% | 3.9% | |
| Invercargill | $361,922 | 19.2% | 2.0% | |
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