QV says house prices up 1.9% in quarter

Saturday 21 August 2004

House prices continue to rise, but the pace of growth is slowing, according to the latest Quotable Value figures.

By The Landlord

They show the national house index rose 1.9% in the June quarter, down from the 5% increase in the March quarter.

Mind you, the March quarter figures were revised from the previously published 4% rise, and the latest rise makes it 12 quarters in a row of price increases.

And the increase for the year ended June was 22%, up from the 15.5% increase in the previous year.

Significantly, among the regions, Nelson become one of the first areas in the past two years to record a quarterly decline, down 2.5% in the June quarter. "The decrease in Nelson is a result of the phenomenal, but unsustainable, growth experienced over the past two years," says QV Valuations spokesman Blue Hancock.

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