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.
We welcome your comments below. If you are not already registered, please register to comment
Remember we welcome robust, respectful and insightful debate. We don't welcome abusive or defamatory comments and will de-register those repeatedly making such comments. Our current comment policy is here.