Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


QV data shows house prices rose 3.5% in year ended November

By Jenny Ruth

Dec. 4 (BusinessDesk) - Quotable Value says its house price index rose 3.5 percent in the year ended November and by 1.3 percent in the past three months.

The average house price nationwide is now $681,545.

QV’s index is based on settled house sales and calculated on a three-month rolling average basis so its data can include house sales that went unconditional as long ago as August or even earlier.

It lags the Real Estate Institute of New Zealand’s figures which are based on unconditional sales and are therefore a more timely measure of housing market activity – the REINZ data for November is due about the middle of this month.

QV says its partner CoreLogic has changed the methodology underpinning its index to provide less volatility and a more precise measure of value changes.

It says New Zealand’s ‘more affordable’ main centres, particularly Dunedin and the wider Wellington region, continue to grow strongly in a cooling market.

The wider Wellington region recorded a 4 percent quarterly increase and an 8.1 percent annual rise, with buyers attracted to more affordable outer city areas such as Porirua and the Hutt Valley.

The ‘top end’ of the market, areas with average values above $1 million, such as Queenstown, are generally experiencing a cooling in both market activity and price growth.

The Auckland region, which had run strongly ahead of the rest of the country for a number of years, recorded just a 0.4 percent year-on-year growth and a 0.1 percent increase in the three months ended November.

“Our latest insight reflects what we’re seeing and hearing in the market; there is still plenty of activity taking place following the ‘spring surge’ in activity, although value growth is fairly modest overall,” QV general manager David Nagel says.

The average house value in the Auckland region is now $1.05 million while in the Queenstown Lakes District it’s an even higher $1.17 million.

The Wellington region is close to the average at $685,387 while Invercargill is the cheapest with an average house price of $282,705.



© Scoop Media

Business Headlines | Sci-Tech Headlines


Government: New Year Border Exception For Seasonal Workers In The Horticulture And Wine Industries

2000 additional RSE workers to enter New Zealand early next year employers must pay these workers at least $22.10 an hour employers will cover costs of managed isolation for the RSE workers RSE workers will be paid the equivalent of 30 hours work a week ... More>>


Grey Power: Is Disappointed To Learn Of More Bank Closures

Many older people are being left without essential services because of cost cutting and the march of modern technology. It is now expected that most banking transactions can occur via the internet or telephone. Jan Pentecost, President of the Grey Power ... More>>


Economy: Supply Chain On Brink Of Overload Says National Road Carriers

The New Zealand supply chain is on the brink of overload and it looks like the upcoming peak imports season may push it over the edge says National Road Carriers Association (NRC) CEO David Aitken. “Worldwide supply chains are in disarray,” says Mr Aitken. ... More>>

Stats NZ: Annual Goods Trade Surplus At 28-Year High

New Zealand’s annual goods trade surplus reached a 28-year high of $2.2 billion as imports tumbled in the year ended October 2020, Stats NZ said today. “This is the largest annual surplus since the July 1992 year, driven mainly by much lower ... More>>

ComCom: How Real Is That Bargain?

The Commerce Commission urges retailers and consumers to think hard about the bargains being offered as ‘Black Friday’ and Christmas draw near. Black Friday has now overtaken Boxing Day in terms of retail spending, according to data from electronic ... More>>

Stats NZ: Births And Deaths: Year Ended September 2020

Births and deaths releases provide statistics on the number of births and deaths registered in New Zealand, and selected fertility and mortality rates. Key facts For the year ended September 2020: 57,753 live births and 32,670 deaths ... More>>


Forest & Bird: Kākāpō Wins Bird Of The Year 2020

The nation has voted and Aotearoa New Zealand has a new Bird of the Year. New Zealand’s moss-colored flightless parrot has climbed to the top-spot for the second time in Forest & Bird’s annual Te Manu Rongonui o Te Tau/Bird of the Year competition. ... More>>