The average value of all homes throughout the country has increased by $55,834 over the last 12 months.
That's an average increase of $1073.73 a week.
According to the CoreLogic House Price Index, the average value of all dwellings in this country increased from $697,204 in October last year to $753,038 in October this year, giving an annual increase of 8.0% in the average value.
The figures also suggest the rate at which property values are rising is also increasing.
Over the three months to October the national average dwelling value increased by 1.9%, up from 0.8% over the three months to September.
Of the four main centres the biggest increase in average values was in Dunedin, which had annual average value growth of 14.0%, followed by Wellington City 8.5%, Auckland 6.2% and Christchurch 5.2%.
The increase in average values tended to be greatest in smaller towns and rural districts where property prices are usually a lot cheaper than the main centres, with many of them recording double digit annual percentage growth.
The biggest increases in average values were in Gisborne, Ruapehu, Rangitikei, Horowhenua and Clutha, which all had annual increases of more than 25%.
The only district where the average value was lower in October than a year earlier was Queenstown-Lakes, where it dropped by 4.3% over the 12 months to October.
The table below gives the average value of dwellings in all districts throughput the country, and the change over three and 12 months.
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| CoreLogic NZ House Price Index | |||
| October 2020 | |||
| Territorial authority | Average current value $ | 3 month change | 12 month change |
| Far North | 506,293 | 3.7% | 7.9% |
| Whangarei | 597,861 | 3.3% | 9.6% |
| Kaipara | 619,132 | 2.5% | 11.3% |
| Auckland - Rodney | 990,415 | 0.3% | 5.9% |
| Rodney - Hibiscus Coast | 960,350 | -0.2% | 5.3% |
| Rodney - North | 1,019,069 | 0.7% | 6.4% |
| Auckland - North Shore | 1,251,886 | 0.9% | 5.3% |
| North Shore - Coastal | 1,437,877 | 2.1% | 4.7% |
| North Shore - North Harbour | 1,200,288 | -0.7% | 6.0% |
| North Shore - Onewa | 1,014,533 | 0.3% | 6.6% |
| Auckland - Waitakere | 876,333 | 2.2% | 7.8% |
| Auckland - City | 1,286,740 | 2.1% | 5.8% |
| Auckland City - Central | 1,126,005 | 2.5% | 5.2% |
| Auckland City - Islands | 1,182,691 | 4.1% | 7.0% |
| Auckland City - South | 1,153,875 | 1.8% | 6.8% |
| Auckland_City - East | 1,613,502 | 2.0% | 5.5% |
| Auckland - Manukau | 953,970 | 0.9% | 6.9% |
| Manukau - Central | 744,793 | 2.2% | 7.1% |
| Manukau - East | 1,218,619 | 0.8% | 7.2% |
| Manukau - North West | 831,186 | 0.5% | 6.8% |
| Auckland - Papakura | 747,431 | 2.5% | 6.3% |
| Auckland - Franklin | 718,027 | 1.9% | 6.4% |
| Thames Coromandel | 855,348 | 5.7% | 11.9% |
| Hauraki | 458,388 | 0.0% | 6.2% |
| Waikato | 542,204 | 1.3% | 10.2% |
| Matamata Piako | 511,664 | -2.9% | 4.6% |
| Hamilton | 649,035 | 2.2% | 9.6% |
| Hamilton - Central & North West | 596,766 | 0.8% | 9.0% |
| Hamilton - North East | 800,804 | 3.4% | 8.4% |
| Hamilton - South East | 604,874 | 1.9% | 10.7% |
| Hamilton - South West | 582,058 | 2.0% | 10.3% |
| Waipa | 662,899 | 2.5% | 10.5% |
| South Waikato | 306,858 | -4.6% | 16.5% |
| Taupo | 599,416 | 4.8% | 8.5% |
| Western BOP | 724,607 | 3.6% | 9.0% |
| Tauranga | 803,447 | 1.2% | 6.1% |
| Rotorua | 547,771 | 2.0% | 11.4% |
| Whakatane | 530,066 | 0.7% | 9.6% |
| Kawerau | 307,147 | 6.1% | 22.9% |
| Opotiki | 392,378 | 7.1% | 8.4% |
| Gisborne | 475,128 | 8.8% | 25.5% |
| Hastings | 601,880 | 1.4% | 11.3% |
| Napier | 622,357 | 0.6% | 10.9% |
| Central Hawkes Bay | 420,231 | -4.0% | 8.7% |
| New Plymouth | 533,239 | 3.8% | 10.8% |
| Stratford | 350,245 | -0.1% | 14.0% |
| South Taranaki | 298,306 | 2.9% | 16.5% |
| Ruapehu | 276,018 | -1.8% | 25.9% |
| Whanganui | 378,123 | 1.8% | 18.5% |
| Rangitikei | 317,364 | 0.8% | 25.7% |
| Manawatu | 487,127 | 3.6% | 15.9% |
| Palmerston North | 541,619 | 5.0% | 15.3% |
| Tararua | 304,610 | 2.3% | 25.7% |
| Horowhenua | 452,216 | 1.9% | 16.5% |
| Kapiti Coast | 692,450 | 2.6% | 13.0% |
| Porirua | 736,173 | 5.7% | 17.2% |
| Upper Hutt | 673,576 | 4.5% | 15.6% |
| Lower Hutt | 710,865 | 3.5% | 13.3% |
| Wellington City | 910,940 | 1.8% | 8.5% |
| Wellington City- Central & South | 894,453 | 0.9% | 7.4% |
| Wellington City- East | 994,601 | 4.6% | 9.8% |
| Wellington City- North | 838,098 | 1.7% | 9.2% |
| Wellington City - West | 1,034,793 | 2.3% | 9.0% |
| Masterton | 467,147 | 5.0% | 17.2% |
| Carterton | 501,341 | 3.6% | 9.2% |
| South Wairarapa | 621,620 | 6.8% | 13.7% |
| Tasman | 653,057 | 1.1% | 5.8% |
| Nelson | 675,280 | 1.9% | 6.7% |
| Marlborough | 553,129 | 6.4% | 12.8% |
| Buller | 213,163 | 3.1% | 3.6% |
| Grey | 228,131 | -6.4% | 3.4% |
| Westland | 280,200 | -2.4% | 8.6% |
| Hurunui | 426,344 | 4.9% | 8.0% |
| Waimakariri | 477,727 | 2.7% | 5.5% |
| Christchurch | 526,062 | 1.3% | 5.2% |
| Christchurch - Banks Peninsula | 550,912 | 1.9% | 4.0% |
| Christchurch - Central & North | 613,533 | 0.8% | 5.0% |
| Christchurch - East | 398,218 | 1.5% | 3.8% |
| Christchurch - Hills | 724,210 | 2.2% | 8.1% |
| Christchurch - Southwest | 501,119 | 1.4% | 5.4% |
| Selwyn | 573,200 | 0.9% | 2.9% |
| Ashburton | 384,998 | 0.0% | 6.5% |
| Timaru | 394,160 | 0.6% | 5.4% |
| MacKenzie | 571,601 | -4.3% | 5.2% |
| Waimate | 281,264 | -0.7% | 7.1% |
| Waitaki | 379,272 | 5.0% | 15.0% |
| Central Otago | 600,830 | 1.7% | 10.5% |
| Queenstown Lakes | 1,150,718 | -1.2% | -4.3% |
| Dunedin | 554,420 | 0.7% | 14.0% |
| Dunedin - Central & North | 565,506 | 0.3% | 12.2% |
| Dunedin - Peninsular & Coastal | 503,208 | 0.1% | 12.0% |
| Dunedin - South | 534,540 | 1.8% | 15.4% |
| Dunedin - Taieri | 580,225 | 0.3% | 15.6% |
| Clutha | 312,582 | 3.9% | 28.5% |
| Southland | 368,501 | -2.4% | 13.5% |
| Gore | 291,610 | 0.3% | 16.1% |
| Invercargill | 362,380 | 0.1% | 13.7% |
| Auckland Region | 1,093,405 | 1.5% | 6.0% |
| Main Urban Areas | 859,484 | 1.8% | 7.5% |
| Wellington Region | 811,099 | 2.8% | 11.1% |
| Total NZ | 753,038 | 1.9% | 8.0% |
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