Average housing values are continuing to increase around the country with the average value of homes in Auckland hitting $931,807 last month, according to Quotable Value (QV).
Around the rest of the country average dwelling values were $435,848 in Hamilton, $525,758 in Tauranga, $468,902 in the Wellington region, $480,464 in Christchurch and $306,614 in Dunedin.
The average dwelling value for the whole country was $555,729 in November, up 15% compared to 12 months earlier and up 4% in the last three months.
In Auckland the average dwelling value increased by 24.4% in the last 12 months and 6.5% in the last three months.
Within Auckland, the average dwelling value is $801,398 in Rodney, it's $1,088,059 on the North Shore, $1,095,480 in Central Auckland, $796,950 in Manukau, $747,664 in Waitakere, $595,557 in Papakura and $575,259 in Franklin.
However QV national spokesperson Andrea Rush said the rate at which property values were increasing in Auckland was beginning to slow.
In the three months to October the average value of Auckland homes increased 7.3% but in the three months to November this slipped to 6.5%.
"Homes values in Auckland are still increasing but at a slower rate than last month and it appears new rules to curb investors, along with restrictions on the capital flow out of China, have led to an easing the market," Rush said.
But while the rate of growth was slowing in Auckland it was picking up in other parts of the country.
"The Wellington market is showing a definite upward tick in values along with Dunedin, as investors look to new markets around the country," Rush said.
"After a slow start to spring Christchurch is also showing more activity with values there rising in most places at a faster pace than it did over the winter months.
"Net migration continues at record highs and interest rates lower than 4% are now being offered ahead of the expectation that the Reserve Bank will lower the OCR this month, so it will be interesting to see how these factors impact on the market over Christmas," she said.
| QV House Price Index | |||||
| November 2015 | |||||
| Territorial authority | Average current value | 12 month change% | 3 month change % | Since 2007 market peak change % | |
| Auckland Region | 931,807 | 24.4% | 6.5% | 70.5% | |
| Wellington Region | 468,902 | 4.1% | 2.5% | 2.9% | |
| # | Main Urban Areas | 667,220 | 17.6% | 4.6% | 45.3% |
| Total NZ | 555,729 | 15.0% | 4.0% | 34.1% | |
| Far North | 328,038 | 7.2% | 2.9% | -17.6% | |
| Whangarei | 373,559 | 10.7% | 5.7% | -5.7% | |
| Kaipara | 357,569 | 6.5% | -1.7% | -9.9% | |
| Auckland - Rodney | 801,398 | 18.7% | 6.6% | 36.6% | |
| Rodney - Hibiscus Coast | 789,822 | 17.8% | 6.4% | 34.5% | |
| Rodney - North | 814,954 | 19.6% | 6.7% | 35.7% | |
| #A | Auckland - North Shore | 1,088,059 | 24.1% | 5.6% | 68.6% |
| North Shore - Coastal | 1,244,613 | 24.9% | 6.0% | 65.2% | |
| North Shore - Onewa | 877,753 | 23.2% | 3.8% | 77.0% | |
| North Shore - North Harbour | 1,048,381 | 23.4% | 7.0% | 72.5% | |
| #A | Auckland - Waitakere | 747,664 | 28.4% | 6.3% | 76.3% |
| #A | Auckland - City | 1,095,480 | 22.8% | 6.1% | 76.0% |
| Auckland City - Central | 951,386 | 22.5% | 6.9% | 67.1% | |
| Auckland_City - East | 1,367,684 | 21.9% | 6.7% | 71.6% | |
| Auckland City - South | 994,392 | 23.9% | 5.1% | 84.7% | |
| Auckland City - Islands | 900,946 | 20.6% | 3.1% | 40.9% | |
| #A | Auckland - Manukau | 796,950 | 27.8% | 8.0% | 74.1% |
| Manukau - East | 1,019,388 | 24.8% | 6.6% | 71.0% | |
| Manukau - Central | 622,567 | 31.2% | 8.2% | 65.6% | |
| Manukau - North West | 676,901 | 29.5% | 9.1% | 83.2% | |
| #A | Auckland - Papakura | 595,557 | 32.0% | 8.9% | 65.5% |
| Auckland - Franklin | 575,259 | 19.5% | 5.3% | 45.4% | |
| Thames Coromandel | 544,861 | 7.7% | 3.4% | -6.3% | |
| Hauraki | 262,553 | 12.3% | -0.4% | -5.9% | |
| Waikato | 330,568 | 17.8% | 6.7% | 9.2% | |
| Matamata Piako | 303,531 | 13.3% | 5.8% | 4.0% | |
| # | Hamilton | 435,848 | 18.6% | 8.7% | 20.6% |
| Hamilton - North East | 554,583 | 19.8% | 9.1% | 23.4% | |
| Hamilton - Central & North West | 406,515 | 20.1% | 8.8% | 13.6% | |
| Hamilton - South East | 396,811 | 17.1% | 7.8% | 13.5% | |
| Hamilton - South West | 383,684 | 17.6% | 8.7% | 12.1% | |
| Waipa | 381,310 | 10.4% | 5.3% | 15.8% | |
| Otorohanga | N/A | N/A | N/A | N/A | |
| South Waikato | 144,039 | 14.0% | 7.1% | -11.7% | |
| Waitomo | 145,655 | 3.9% | 0.1% | -31.4% | |
| Taupo | 356,724 | 6.9% | 0.8% | -10.9% | |
| Western BOP | 452,944 | 7.3% | 2.6% | 0.5% | |
| # | Tauranga | 525,758 | 15.5% | 6.6% | 9.2% |
| Rotorua | 291,963 | 8.6% | 6.7% | -0.6% | |
| Whakatane | 307,205 | 4.4% | 2.6% | -11.7% | |
| Kawerau | 103,741 | 1.4% | 2.0% | -34.9% | |
| Opotiki | N/A | N/A | N/A | N/A | |
| Gisborne | 232,128 | 1.8% | 1.3% | -21.9% | |
| Wairoa | 145,867 | 0.8% | 2.9% | -40.4% | |
| Hastings | 317,612 | 7.1% | 1.7% | 1.9% | |
| # | Napier | 338,960 | 3.9% | 1.9% | -0.4% |
| Central Hawkes Bay | 213,234 | 5.2% | 4.3% | -19.6% | |
| New Plymouth | 373,450 | 5.3% | 3.2% | 12.9% | |
| Stratford | 213,471 | 7.8% | 5.7% | -2.4% | |
| South Taranaki | 188,755 | 1.2% | 2.7% | -4.5% | |
| Ruapehu | 131,274 | -2.7% | 2.9% | -27.2% | |
| Whanganui | 184,696 | 1.5% | 1.9% | -17.6% | |
| Rangitikei | 144,644 | 1.1% | 1.9% | -20.1% | |
| Manawatu | 252,439 | 5.2% | 3.2% | -0.7% | |
| # | Palmerston North | 298,847 | 3.6% | 1.5% | 0.2% |
| Tararua | 150,797 | -0.8% | 0.9% | -14.5% | |
| Horowhenua | 210,957 | 3.1% | 1.9% | -11.3% | |
| Kapiti Coast | 388,890 | 2.7% | 1.7% | 1.5% | |
| #W | Porirua | 391,273 | 3.2% | 2.8% | 2.4% |
| #W | Upper Hutt | 344,625 | 3.1% | 2.9% | -1.9% |
| #W | Hutt | 383,531 | 4.2% | 2.8% | -2.3% |
| #W | Wellington | 558,211 | 3.9% | 2.1% | 4.8% |
| Wellington - Central & South | 564,985 | 3.6% | 1.9% | 0.8% | |
| Wellington - East | 608,460 | 3.8% | 2.5% | 5.6% | |
| Wellington - North | 489,284 | 4.2% | 1.7% | 5.0% | |
| Wellington - West | 643,393 | 4.4% | 2.7% | 5.9% | |
| Masterton | 241,442 | 1.6% | 3.4% | -15.5% | |
| Carterton | 260,614 | -0.7% | -3.9% | -6.5% | |
| South Wairarapa | 311,263 | 4.2% | 3.3% | -8.0% | |
| Tasman | 434,123 | 4.6% | 2.3% | 8.1% | |
| # | Nelson | 424,022 | 3.6% | 2.0% | 10.7% |
| Marlborough | 362,991 | 5.3% | 2.8% | -6.9% | |
| Kaikoura | N/A | N/A | N/A | N/A | |
| Buller | 191,377 | -5.3% | -0.1% | -6.9% | |
| Grey | 212,192 | -3.9% | -4.0% | -13.2% | |
| Westland | 229,912 | 0.6% | -1.9% | -4.2% | |
| Hurunui | 358,486 | 7.2% | 0.7% | 14.7% | |
| Waimakariri | 417,122 | 1.3% | -0.1% | 30.3% | |
| # | Christchurch | 480,464 | 2.9% | 0.9% | 26.6% |
| Christchurch - East | 364,385 | 3.9% | 0.9% | 17.7% | |
| Christchurch - Hills | 649,558 | 4.1% | 1.2% | 17.4% | |
| Christchurch - Central & North | 565,568 | 3.2% | 1.5% | 27.7% | |
| Christchurch - Southwest | 455,177 | 2.1% | 0.2% | 34.1% | |
| Christchurch - Banks Peninsula | 487,377 | 1.4% | -0.7% | 1.4% | |
| Selwyn | 522,414 | 2.7% | 1.1% | 40.1% | |
| Ashburton | 338,255 | 3.4% | 3.4% | 20.9% | |
| Timaru | 312,663 | 7.4% | 1.6% | 24.6% | |
| MacKenzie | 330,962 | 18.1% | 8.7% | 15.5% | |
| Waimate | 210,944 | 5.5% | 6.2% | 11.9% | |
| Waitaki | 230,138 | 3.8% | 0.4% | 0.8% | |
| Central Otago | 337,421 | 5.8% | 1.7% | 6.4% | |
| Queenstown Lakes | 756,665 | 9.3% | 3.5% | 10.0% | |
| # | Dunedin | 306,614 | 5.1% | 2.4% | 7.1% |
| Dunedin - Central & North | 323,425 | 7.5% | 4.0% | 7.2% | |
| Dunedin - Peninsular & Coastal | 280,648 | 5.9% | 1.9% | 3.7% | |
| Dunedin - South | 287,399 | 3.3% | 1.1% | 0.7% | |
| Dunedin - Taieri | 316,037 | 3.9% | 2.0% | 7.5% | |
| Clutha | 167,203 | 0.5% | 1.1% | -7.7% | |
| Southland | 212,662 | 3.1% | -0.4% | -7.6% | |
| Gore | 184,396 | 0.9% | -1.4% | 4.9% | |
| # | Invercargill | 214,880 | 5.0% | 3.3% | -2.6% |
| Notes on the above data: | |||||
| 1. The information included in the above table is based on the monthly property value index. This index is calculated based on the sales data entered into CoreLogic's system in the previous 3 month period. For example, information for the period ending June will be calculated based on sales entered between April 1 and June 30. | |||||
| 2. The average current value is the average (mean) value of all developed residential properties in the area based on the latest index. It is not an average or median sales price, as both of those only measure what happens to have sold in the period. | |||||
| 3. The percentage change over three months, twelve months and since the 2007 market peak are based on the change in the property value index between that time and the current. | |||||
| 4. Any of the statistical data shown in italics are calculated based on a sample set of data that is less than the recommended minimum. These results should be used with caution. Those showing N/A had too few sales to generate an index | |||||
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