Housing values remained flat this summer according to Quotable Value.
New Zealand's average dwelling value was $909,139 at the end of February, barely changed (+0.2%) over the three months from December, and down 0.4% compared to February last year, according to QV's House Price Index.
Around the main cities, changes in average dwelling values over the three months to February ranged from a drop of 1.8% in Nelson and Greymouth to a gain of 2.6% in Dunedin. See the chart below for the full regional figures.
In Auckland the average dwelling value was $1,197,960, down 0.3% over the three months to February, and down 3.8% compared to February last year.
In the Wellington Region the average dwelling value was $809,491, up 0.1% over the three months to the end of February, but down 3.7% compared to February last year.
In Canterbury the average dwelling value was $765,623, up 1.0% over the three months to the end of February, and up 3.2% compared to February last year.
QV spokesperson Simon Petersen said this had been one of the housing market's flattest summers in terms of home value growth, even more so than the 0.5% average growth over the same period last year.
"The housing market remains in a state of 'steady as she goes' for now," he said.
"Listing levels and buyer demand are relatively well balanced, helping to keep property values broadly stable for the time being."
"At the same time, global uncertainty and geopolitical tensions mean the outlook remains somewhat murky right now, particularly when it comes to interest rates and inflation."
"The next month or so should paint a clearer picture of what we can expect in 2026," Petersen said.
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