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QV says property prices up again

QV says property prices up again

Old Jun 12th 2005, 7:51 pm
  #1  
Don
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Default QV says property prices up again

http://www.stuff.co.nz/stuff/0,2106,3310878a10,00.html

Dunedin again led the main centres with an increase of 22.9 per cent in property values, followed by Hamilton (21.2 per cent) and Christchurch (18.5 per cent).

Wellington City came in well behind at 8.2 per cent.

Growth in Auckland city values was also low at 5.8 per cent, but this was an improvement on the April year figures.

QV have not updated their own site just yet.

No more
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Old Jun 12th 2005, 7:55 pm
  #2  
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Default Re: QV says property prices up again

Real Estate Institute president Howard Morley said the figures were in line with April data released by the institute.

"With high levels of employment, the real estate market is quite firm. Interest rates aren't moving.

"The figures show that all round, it has been performing pretty well."

Mr Morley said real estate agents were reporting they were still short of listings and there were a lot of buyers in the marketplace.

full story http://www.nzherald.co.nz/index.cfm?...ectID=10330406
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Old Jun 13th 2005, 5:40 am
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Default Re: QV says property prices up again

OK QV have updated their nice property map until May this year https://www.qv.co.nz/onlinereports/propertyvaluemap.htm
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Old Jun 13th 2005, 5:46 am
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Default Re: QV says property prices up again

Its even in the Southland times today about the 12.5% increase this year and its still going up!High demand, low availability seems to be fuelling the fire.
If it carries on much more we may be in for a hard landing....i hope not
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Old Jun 13th 2005, 5:48 am
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Default Re: QV says property prices up again

One thing to bear in mind about QV vs REINZ is the following: The Property ValueMap is shown as at a specific month, as the statistics are calculated from data received and compiled by QV up until the final day of that month. Sales are included over a 3 month period rather than a single month to ensure that there are sufficient sales volumes to calculate statistically accurate property value growth.

For example, the Property ValueMap as at January 2005 will include sales compiled by QV up until 31 January 2005 and include sales compiled since 1 November 2004. The property value growth compares this sales data to the sales data for the same period 12 months earlier e.g. 1 November 2003 to 31 January 2004.

Therefore it will a. be a lagging indicator, b. tend to smooth the data somewhat.

I personally feel the NZ property mkt is currently in a much duller patch than QV seem to suggest, with many areas standing still or even slightly declining.

Probably REINZ housing mkt survey is the best bet, next one due in about a week. http://www.reinz.co.nz/reinz/index.c...8-BAC1BA48A58D
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