House prices rise 8.5% for year

The survey shows Invercargill's house prices rising by 4.2 percent for the latest quarter with house prices below cost and good rental yields remaining the key driving force
The Wellington area recorded a rise of 1.6 percent for the September quarter. However, Upper Hutt showed volatility with a rise of 2.5 percent in the June Quarter and minus 0.3 percent in the September quarter.
In Auckland, there was an average rise of 1.9 percent in the September quarter and the region is on track for a 15 percent average increase for the year. The largest gain in the region was Auckland City (+3.3 percent). The lowest was Waitakere City (+0.5 percent).
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