IanR
20th July 2008, 01:16 AM
Monday 14th July 2008
Widespread fall in property values
QV's June statistics for the residential property market report a 0.1% growth in national property values over the past year (calculated over the three months ending June 2008 in comparison to the same period last year), down on the 2.4% growth reported in May. The average New Zealand sale price increased slightly to $392,436.
“Property values are clearly on the decline across most of New Zealand’s major cities and main urban areas” said Glenda Whitehead QV Valuations. “The Wellington region, parts of the Auckland region, and some provincial areas are keeping the national figure positive, but at a meagre 0.1% growth. The long anticipated correction in the market, following the years of boom times, is with us” said Whitehead.........ctd....
https://www.qv.co.nz/aboutus/pressreleases/widespreadfallinpropertyvalues14072008.htm
Widespread fall in property values
QV's June statistics for the residential property market report a 0.1% growth in national property values over the past year (calculated over the three months ending June 2008 in comparison to the same period last year), down on the 2.4% growth reported in May. The average New Zealand sale price increased slightly to $392,436.
“Property values are clearly on the decline across most of New Zealand’s major cities and main urban areas” said Glenda Whitehead QV Valuations. “The Wellington region, parts of the Auckland region, and some provincial areas are keeping the national figure positive, but at a meagre 0.1% growth. The long anticipated correction in the market, following the years of boom times, is with us” said Whitehead.........ctd....
https://www.qv.co.nz/aboutus/pressreleases/widespreadfallinpropertyvalues14072008.htm