Property market coming off the boil

House values continue to rise, but the rate of increase is slowing. Figures from Quotable Value show a rise for the year to February of 15.3 per cent, which is down from the 16.8 per cent annual growth in the previous month. QV says the February figure reflects feedback from the market of a softening of demand and less pressure on prices.

However spokesman Blue Hancock says an annual growth rate of more than 15 per cent is still very strong. He says there is nothing to suggest any dramatic change in the housing market.

All the main centres saw a decrease in the annual growth rate. Auckland recorded 10.5 per cent growth, Wellington 13 per cent, Christchurch 17.5 and Dunedin 9.8 per cent.

- NEWSTALK ZB