Prices for Northland houses sold last month were "flat to easing", Quotable Value (QV) official Glenda Whitehead says.
Nationwide property values have remained steady for the past six months, after having declined in the previous six months, she said.
National values were 1.6 per cent lower than the same time last year, and 5.7 per cent below the market peak of late 2007.
QV index figures showed property value growth was down 5.2per cent at Whangarei in April and 5.5 per cent last month, while in the Far North property value growth was down 10.2 per cent in April and 12.6 per cent last month.
While unrelated to the QV index, and a less reliable measure of value change, the average Northland sales price during the past three months was $324,751 in the Whangarei district and $361,340 in the Far North.
Kaipara sales were not included because there were too few of them for an adequate assessment.
The average New Zealand sales price during the past three months was $404,057, down slightly from the $405,310 reported last month.
Ms Whitehead said the "very stable" QV index measured the whole portfolio of properties in a district, not just those which sold. Average prices were influenced by the type of sale taking place as sales of high-value properties could pull the average price up.
"As has been the case for many months, there is a general lack of good-quality, well-presented properties on the market," Ms Whitehead said. "When these come up they tend to sell quickly and for good prices, whereas properties with perceived flaws are slow to sell or need to discount.
"There is also evidence from across the country that first-home buyers may be active in the market again, perhaps encouraged by lower interest rates and easing lending criteria."
Prices flat but steady for North housing
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