Rotorua house values continue to rise

Photo/file

Values of properties in Rotorua are continuing to climb.

The latest QV House Price Index shows the current average value is $411,544, which is 16.2 per cent up on 12 months ago and 4.5 per cent up on three months ago.

It is 40.2 per cent higher than the average values at the 2007 market peak.

The figures nationally show Auckland regional values decreased in the last three months while regions continued to out-perform most of the main centres.
The price index shows nationwide residential property values for September increased 4.3 per cent over the past year.

Values rose by 1.1 per cent over the past three months and the nationwide average value is now $646,378 which is 56.0% above the previous market peak of late 2007.

When adjusted for inflation the nationwide annual increase drops slightly to 2.5 per cent and values are now 30.2 per cent above the 2007 peak.

Residential property values across the Auckland Region increased 0.8 per cent year on year. Values dropped by -0.6 per cent over the past three months.
The average value for the Auckland region is now $1,039,066 and values are now on average 90.1 per cent higher than the previous peak of 2007.

When adjusted for inflation values dropped 1.0 per cent over the past year and are 58.7 per cent above the 2007 peak.