READ MORE: House prices are holding, despite the shadow of Covid 19 4 June 2020 Prices are slightly up nationally - and in Auckland, Wellington and Christchurch centres - over the past three months. AN... 20 May 2020 Can mortgage rates drop any further? Her comments follow the release of QV’s House Price Index, which puts the average value of homes nationwide up by 2.4% over the past three months and by 7.7% year-on-year. Covid-19 turned the lights out on New Zealand's tourist industry as if by the flick of a switch. Invercargill had the fastest quarterly house price growth, up 4.7 per cent. Homes.co.nz shows Newmarket prices fell 7.4 per cent from 2018 to January 2019 to a median $657,000. More... What lies ahead for the housing market The House Price Index (HPI) measures the movement in house prices throughout New Zealand, providing an indicator of capital growth. Periods of house price decline are rare and "short-lived", says economist Tony Alexander, amid forecasts of a drop of 10%-15% this year. QV quarterly house price index; Download the key graph data file (XLSX <200KB) Data from 1990 is available in the key graph data file. In the Auckland region, average values were also up - 2.7% over the last quarter and by 5.4% year-on-year. The median price nationwide in March, according to REINZ, was $665,000 - 11 percent off that brings it down to $591,000, which was the median price in September last year.
The House Price Index gives a better overall picture of house values in the Auckland market than the median prices, REINZ says. New Zealand's COVID-19 lockdown hasn't dampened house prices, with one real estate company showing all-time average highs in asking prices in seven regions. Century 21 real estate agent Derryn Mayne says the full effect of Covid 19 on prices is still to come, but the signals are promising.
ANZ report affirms forecast of 10% to 15% fall in house prices this year but warns there's a risk they could fall by more, says commercial property market likely … House price drops are short-lived - Alexander.
Rates change all the time. Prices are slightly up nationally - and in Auckland, Wellington and Christchurch centres - over the past three months. Chief data scientist Tom Lintern said that was probably due …
Keep up to date with the latest activity so you can manage your mortgage and pay-it-off faster. News. The data is compiled and published by Core Logic. New Zealand house prices could 'potentially' drop worse than 9% - Reserve Bank • Source: 1 NEWS Among smaller regions, Hauraki prices fell 6.4 per cent, Kawerau 5.1 per cent, and Otorohanga 4 per cent.
... Retail banks were called out by the deputy governor of the RBNZ for not passing their lower prices down to home loan borrowers.
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