House prices jump 12.4 per cent

Last updated 13:18 09/12/2013

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House values in Christchurch have risen 12.4 per cent in the past year, according to state valuer Quotable Valuer (QV).

The city's average house value is now $450,049.

QV's latest monthly report said prices continued to grow, with fluctuations throughout the different suburbs.

QV Valuer Daryl Taggart noted the city's market remained active but the restrictions on low-deposit loans had ''removed some of the hype'', especially at auctions.

The city's home values are now 18.6 per cent above their previous market peak in 2007.

In the year to the end of November, values rose by an average of 14.4 per cent in the south and west of the city, 13.2 per cent in the central and north, 10.8 per cent in the east, and 9.8 per cent in the hill suburbs.

Elsewhere in Canterbury average values and annual changes were: Hurunui $336,659 (5%), Waimakariri $394,012 (8.4%), Selwyn $486,612 (11.7%), Ashburton district $310,411 (8.1%), Timaru district $277,227 (6.2%).

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- © Fairfax NZ News


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