House prices rise at fastest pace in 8 years, Auckland up 18.8%: QV

Tue, 04 Aug 2015

By Jonathan Underhill Aug. 4 (BusinessDesk) - New Zealand residential property values rose at the fastest pace in eight years in July, driven by the overheated Auckland housing market, and are now about 27 percent above the previous market peak in late 2007, according to state-owned agency Quotable Value. National property values accelerated 10.1 percent in the 12 months through July to $527,760. Values in the Auckland region surged 18.8 percent to $855,672, the fastest pace since 2004, QV said. Auckland values have climbed about 57 perce...

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