Property values are gradually climbing, the latest QV figures show.
In Nelson, values rose 0.1 per cent over the past three months and 2.7 per cent in the past year to April, with the average sale price over the past three months $365,339.
In Tasman values are up 0.9 per cent over the past three months and 1.7 per cent over the year, with the average sale price $378,285.
Nationwide, values rose 0.4 per in the last three months and were up 3.1 per cent over the past year. They now sit at 2.9 per cent below the previous market peak of late 2007.
The marginal drop in values in March appears to have been a temporary blip, QV valuer Glenda Whitehead said.
There continued to be variability across the country, but slight increases in Auckland, Wellington, Hamilton and several provincial centres were helping to push up national values, Ms Whitehead said.
Sales activity had been strong in the past few months, with volumes at their highest levels since 2007.
Values in the Auckland region are up 0.6 per cent over the past three months, and 5 per cent in the past year.
Values in Auckland city are rising faster than any of the other main centres, at 6.8 per cent over the past 12 months.
They are now 5.1 per cent higher than the previous market peak in 2007.
Over the past 12 months values in the Wellington area dropped and then recovered. They are now up 0.6 per cent for the past year.
Values in Christchurch have been rising steadily for most of the past year to now be 4.8 per cent higher.
- © Fairfax NZ News
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