12 Sep 2012

Auckland drives rising property values

7:11 am on 12 September 2012

Nationwide residential property values are continuing to rise.

Figures from the property valuer, Quotable Value, show that house prices have risen 1.6% in the past three months, and 4.8% over the past year.

Values are now only 0.4% below the 2007 market peak.

QV research director Jonno Ingerson said the trend over the last year has continued.

"We're seeing values at a nationwide level that are continuing to increase," he said.

"It (the rise) is being driven pretty strongly by Auckland, which ... is increasing faster than anywhere else, particularly in the old Auckland City."