New Zealand Home Values See 2% Increase in Three Months
According to the latest Quotable Value House Price Index (HPI), the average home values in New Zealand experienced a 2% increase over the three months leading up to January.
The average value of homes in the country reached $925,461 by the end of January, marking a 2% rise from the end of October 2023. However, this figure represents a 1% decrease compared to the same period last year.
The Queenstown-Lakes District emerged as the leader in terms of average value, with homes reaching an average of $1,807,282. This district also saw the largest quarterly increase at 4.4%, as reported by the HPI. On the other hand, Invercargill recorded the lowest average price at $466,898 and was the only major district to experience a negative quarterly value decline at -0.6%.
The housing data revealed that certain areas of the country continued to exhibit volatility, particularly in regions with a relatively low number of sales. According to experts, even a small change in activity can significantly impact the value performance of less populous regions. Despite this, the overall trend indicates that the housing market is gradually strengthening.
The latest data from the Quotable Value House Price Index paints a picture of a housing market that is experiencing both growth and volatility. While some areas have seen significant increases in dwelling values, others have faced declines. However, the general trajectory suggests a slow but steady strengthening of the housing market.
New Zealand Home Values See 2% Increase in Three Months
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