Housing values have flattened across the country, including Auckland, according to the latest figures from Quotable Value.
The average dwelling value for the whole of New Zealand is now $559,492 and has increased just 0.2% over the last three months.
In Auckland the average dwelling's value has decreased by 0.2% to $931,061 over the three months to February (see chart below for full details).
However property values in some parts of Auckland have posted more substantial declines, with the average value of properties on the North Shore and Waitakere both declining 1.1% in the three months to February while those in central Auckland were down 0.3%.
But values continued to rise in the region's northern and southern fringes, with the average values in Rodney up 1.8%, and average values in Papakura and Franklin up 1.9% and 1.7%, respectively.
However average values continued to rise strongly in Hamilton where they increased 3.7% in the three months to February, and in Tauranga where they were up 5.5%.
In other major centres, average values in Wellington rose 4.2% in the three months to February, and were up 0.8% over the same period in Christchurch and up 2% in Dunedin.
"Home values have risen in most parts of New Zealand in the first quarter of 2016 with the exception of the Auckland region where values have been on a slight downward trend over the last three months," QV national spokesperson Andrea Rush said.
"The strong upward trend in Hamilton and Wellington housing markets is continuing unabated, while in comparison the Christchurch market remains relatively flat," she said.
According to CoreLogic's latest buyer classification data, 44% of sales in Auckland in the three months to February were to multiple property owners (most likely investors), 21% were to first time buyers and 24% were people moving from one house to another.
Around the rest of the country, multiple property owners accounted for 37% of sales, 20% were to first time buyers and 26% went to people moving from one house to another.
See the chart below for the QV's average value of homes in all parts of the country.
|QV House Price Index|
|Time period: March 2016|
|Average current value||12 month change%||3 month change %|
|Main Urban Areas||667,102||12.4%||-0.3%|
|Total New Zealand||559,492||11.4%||0.2%|
|Auckland - Rodney||830,104||17.4%||1.8%|
|Rodney - Hibiscus Coast||811,997||15.6%||1.0%|
|Rodney - North||850,225||19.3%||2.7%|
|Auckland - North Shore||1,077,459||15.1%||-1.1%|
|North Shore - Coastal||1,221,028||13.9%||-1.9%|
|North Shore - Onewa||867,412||15.0%||-1.2%|
|North Shore - North Harbour||1,066,069||18.8%||1.2%|
|Auckland - Waitakere||739,411||18.1%||-1.1%|
|Auckland - City||1,093,035||14.5%||-0.3%|
|Auckland City - Central||959,332||16.1%||0.9%|
|Auckland_City - East||1,361,455||13.9%||-0.9%|
|Auckland City - South||988,243||14.5%||-0.3%|
|Auckland City - Islands||905,380||9.0%||-0.1%|
|Auckland - Manukau||799,700||20.9%||0.5%|
|Manukau - East||1,024,120||17.7%||0.2%|
|Manukau - Central||623,098||24.8%||0.6%|
|Manukau - North West||684,683||23.4%||1.1%|
|Auckland - Papakura||612,866||27.4%||1.9%|
|Auckland - Franklin||589,925||19.2%||1.7%|
|Hamilton - North East||579,195||22.9%||3.2%|
|Hamilton - Central & North West||428,575||23.5%||2.9%|
|Hamilton - South East||426,877||23.5%||5.0%|
|Hamilton - South West||408,260||24.8%||3.9%|
|Central Hawkes Bay||223,204||4.6%||1.9%|
|Wellington - Central & South||593,636||7.5%||3.6%|
|Wellington - East||650,254||10.0%||4.1%|
|Wellington - North||522,098||8.7%||4.5%|
|Wellington - West||689,133||11.8%||4.8%|
|Christchurch - East||368,818||4.5%||0.8%|
|Christchurch - Hills||652,617||2.5%||-0.2%|
|Christchurch - Central & North||570,630||3.3%||0.6%|
|Christchurch - Southwest||462,012||1.6%||1.4%|
|Christchurch - Banks Peninsula||492,865||3.2%||0.6%|
|Dunedin - Central & North||328,089||8.2%||1.1%|
|Dunedin - Peninsular & Coastal||282,889||5.9%||2.0%|
|Dunedin - South||299,944||9.0%||2.7%|
|Dunedin - Taieri||328,117||8.1%||2.9%|
|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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