Residential property values remained flat overall in the first quarter (Q1) of this year, according to valuation company QV's House Price Index for March.
The average New Zealand dwelling value was $909,572, almost unchanged (-0.1%) compared to Q4 last year.
On an annual basis, the average dwelling value was -0.4% lower compared to Q1 last year.
The biggest declines in value in Q1 were in Taupo -3.8% and Greymouth -3.4% for the quarter, while the biggest increases in average values were in Gisborne and Dunedin, both up 3.7%.
On an annual basis, the biggest decline in average values between Q1 last year and Q1 this year was in Wellington City at -5.0%, while the biggest increase was in Invercargill, up 8.1% for the year.
Wellington City is also the only centre where average values are still below where they were in Q1 2020,when the Covid-19 pandemic hit. See the table below for the full regional figures.
11 Comments
Banks all predicting future decline. Well capitalized investor won't blink. Specuvestors hanging on by slim to negative margin are in for something like 2.5m + swells in Cook Straight.
Only thing collapsing here is the comment section volume
Guess its getting hard to run the old doom script when the data is pretty much...just sideways
With a side of economic collapse. What happens next is more important. Perhaps some kiwis will come home from Aussie. To clarify... not deported.
Hmnmm yeh maybe....but the “next bit” always seems to be where the crash lives
The actual numbers just keep coming in a lot less dramatic.
Not since Oct 2021
so many green shoots from spruikers but ... here we are...
Wgtn and Auckland down 20% the crash has already happened... no debate there
how much more crash is the debate now
Far more interesting news out currently than a stale old housing market.
“Even the most favourable outcome would result in a notable ongoing expense per unit,” the minutes said.
The body corporate has a significant debtors’ balance of almost $900,000 and this amount continues to increase, the minutes said.
sure multiple levels of being screwered
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