Quotable Value Ltd’s monthly house price index release, out on Wednesday, showed Auckland still falling slightly while the rest of the country continues to catch up.
Quotable Value Ltd’s index for house values in Auckland continued to fall in Auckland in February, and continued to rise elsewhere.
Value change in residential markets looked localised in Quotable Value Ltd’s latest index, out today.
Quotable Value Ltd’s monthly chart of house price movements, out today, shows Auckland going from a just-positive 0.4% shift over the 12 months to November, to a just-negative 0.4% shift for the December year.
Auckland house values remained at a standstill in the 3 months to October, while the catchup being played out around the rest of the country was strong in several centres, according to Quotable Value Ltd’s monthly update.
The expectation of large windfall gains from housing is gone and, for most of the Auckland region, the small gains made over the last year are below the rate of inflation.