Property

Christchurch house prices defy slowdown predictions

Christchurch house prices continue to rise faster than most of New Zealand's, confounding predictions of an imminent slowdown.

Tuesday, July 12th 2005

The latest residential property values report, released today by Quotable Valuations (QV), shows values in Christchurch rose 18.5 per cent for the year ended last month. This was more than 4% higher than the national increase.

It confirms Christchurch's similar rise in the previous report, which covered the year to the end of May.

Christchurch's value increase was third among New Zealand's main cities, following Hamilton (23.6%) and Dunedin (22.1%).

Nelson was the only area to register a decline, with a 1.3% fall in values.

QV spokesman Blue Hancock said the rise in property values was showing little sign of slowing.

"Despite thoughts that the property market is about to enter a slowdown period, we are still seeing increasing levels of growth in property values across most areas of the country," Hancock said.

Indicators were pointing to a levelling out of growth in values.

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Heartland Bank - Online 6.69
SBS FirstHome Combo 6.74
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Unity 6.99
Co-operative Bank - First Home Special 7.04
ICBC 7.05
China Construction Bank 7.09
BNZ - Classic 7.24
ASB Bank 7.24
ANZ Special 7.24
TSB Special 7.24
Unity First Home Buyer special 6.45
Heartland Bank - Online 6.45
China Construction Bank 6.75
TSB Special 6.75
ICBC 6.75
ANZ Special 6.79
ASB Bank 6.79
AIA - Go Home Loans 6.79
Kiwibank Special 6.79
BNZ - Classic 6.79
Unity 6.79
Westpac Special 6.39
China Construction Bank 6.40
ICBC 6.49
SBS Bank Special 6.55
Kiwibank Special 6.55
BNZ - Classic 6.55
Co-operative Bank - Owner Occ 6.55
ASB Bank 6.55
AIA - Go Home Loans 6.55
TSB Special 6.59
Kainga Ora 6.99
SBS FirstHome Combo 6.19
AIA - Back My Build 6.19
ANZ Blueprint to Build 7.39
Credit Union Auckland 7.70
ICBC 7.85
Heartland Bank - Online 7.99
Pepper Money Essential 8.29
Co-operative Bank - Owner Occ 8.40
Co-operative Bank - Standard 8.40
First Credit Union Standard 8.50
Kiwibank 8.50

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