QV - 2 March2017 - Values have dropped over the past quarter in parts of Auckland, Hamilton and Christchurch and the rate of value growth in Tauranga has slowed as the latest round of LVR restrictions continue to take effect.
But Wellington region values continue to accelerate with values up more than 21.0% over the past year and 4.3% over the past three months!
The Dunedin market too remains buoyant, with strong levels of activity and demand and continued steady value growth.
Values are still rising in central Auckland, Waiheke Island, and Rodney and Franklin districts, but values have dropped in the last three months in the Waitakere, Manukau and North Shore cities.
The same trend of negative growth was seen in parts of the Auckland market this time last year following the introduction of the 30% LVR rules for investors in October 2015, and then values began increasing again by April 2016.”
So it’s possible the latest quarterly decrease seen in parts of the Auckland will be relatively short-lived as the market drivers of relatively low interest rates, strong net migration and a high number of sales to investors remain.
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