Key Facts:

  • Property prices have risen in 30% of New Zealand suburbs since June.
  • The average national property value has increased by 29.8% since June 2021.
  • Nationally, 712 out of the 2,343 urban areas have experienced a decrease in property values.
  • The regions with the highest price increases include Wellington and Canterbury.
  • Suburbs in the central North Island and southern South Island have seen declines in property prices.

Article Summary:

A recent report by CoreLogic has shown that property prices have risen in 30% of New Zealand suburbs since June. The average national property value has increased by 29.8% since June 2021. However, not all areas have experienced growth, as 712 out of the 2,343 urban areas nationally have seen a decline in property values.

The regions that have seen the highest price increases include Wellington and Canterbury. These areas have experienced strong demand for housing, leading to price growth. On the other hand, suburbs in the central North Island and southern South Island have seen declines in property prices.

This data highlights the varied nature of the New Zealand property market and the different factors that influence price movements. While some areas experience rapid growth, others may see a slowdown or decrease in property values. It is essential for home buyers, home owners, and property investors to stay informed about the market conditions in their desired areas to make informed decisions.

To read the full article, go to: https://www.corelogic.co.nz/news-research/news/2023/property-prices-rise-in-30-of-nz-suburbs-since-june?utm_medium=organic&utm_source=linkedin&utm_campaign=nz-res-mapping-the-market-2023-oct