I love that saying, “The Property Values Up”….it’s a saying we always wait to hear when we order a valuation.
This article however is not quite the same, it’s a blurb about how well property has done in Auckland over the last year and if you were a client of mine you would not be reading this as news, in fact you would be one of those people who are benefiting right now from the fact that there is a shortage of property in Auckland and the Reserve Bank putting interest rates up will not change that….too many people, not enough property and what do you get? Property Prices going up….it doesn’t take a rocket scientist to work that one out.
Auckland property values continue to surge ahead, up 15.2 per cent in the last year.
QV has just released its latest monthly property value index.
That showed national residential values last month up 9.2 per cent over the past year, and 2.5 per cent over the past three months.
This means they are now 11 per cent above the previous market peak of late 2007, QV said.
Adjusted for inflation, the national annual increase dropped slightly to 7.7 per cent and values remain below the 2007 peak by 4.3 per cent.
“The Auckland market has increased 15.2 per cent year on year and values are 25.4 per cent above the previous peak. When adjusted for inflation values are up 13.7 per cent over the past year and are 8.1 per cent above the 2007 peak,” QV said.
via NZ Herald News.