Property values recover slightly

While house values are down everywhere in Northland compared to the same time last year, recent months have seen a slight recovery.

The latest Quotable Value (QV) residential property index for September said nationwide values have been gradually increasing over the past six months and were now 0.7 per cent above the same time last year but 4.6 per cent below the market peak of 2007.

Property values in Whangarei slipped 3.7 per cent last month, down 0.1 per cent from August and the average sale price of a house in the district in September was $311,088.

The decrease in the Far North was 6.3 per cent compared to 10.6 per cent in August, with the average sale price at $307,307.

Source: NorthernAdvocate.co.nz