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National property values still rising

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AUCKLAND LEADS: Properties in the main centres went up in price with values rising fastest in Auckland.

AUCKLAND LEADS: Properties in the main centres went up in price with values rising fastest in Auckland.


Main centres continued to lead the growth in national property prices in August, with the exception of Wellington and Tauranga, according to property valuer QV.



National values rose 1.6 per cent in the past three months and 4.8 per cent over the past year. They were now only 0.4 per cent below the market peak of 2007, QV said. The national average sales price was $423,569.

QV research director Jonno Ingerson said properties in the main centres went up in price with values rising fastest in Auckland.

Over the past year values rose 7.7 per cent in Auckland city to $659,639. Manukau (up 6.8 per cent), Waitakere (6.2 per cent) and North Shore (6 per cent) weren't far behind.

QV valuer Jan O'Donoghue said there hadn't been the same heat in the Auckland market over the past month as it had seen for much of the past year, but he expected the market to pick up especially with an increase in the number of new listings.

Values rose 5.5 per cent to $387,955 in Christchurch over the past year, driven by strong demand for properties in the least earthquake affected parts of the city and areas that had been largely repaired.


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