The Auckland region as a whole saw residential property values increase by 1.8% over the past three months and 11.4% year on year.
Auckland City Islands saw values increase the most, up 5.0% over the past three months; followed by Rodney – Hibiscus Coast up 3.4%; and Manukau – North West and Rodney District, both up 2.7%.
QV Valuer Bruce Wiggins said, “Winter has seen a continued reduction in transactions and listings are low across the Super City region. The upcoming election may also be a factor in the market being quiet as well as people wait to see the election result before making a decision.”
“Good properties are still attracting good money but if there are any issues with a property then it is likely to take longer to sell.”
“New builds are also selling well and attracting good prices. As there are no LVR restrictions on lending for new builds this may account for the stronger interest in this sector.”