2 Jul 2015

'Auckland effect' lifts property prices

1:47 pm on 2 July 2015

The latest property figures show the so-called "Auckland effect" is leading to house prices in Hamilton and Tauranga going up.

real estate signs

Photo: RNZ / Eileen Cameron

The QV House Price index shows nationwide residential property values for June have increased 9.3 percent during the past year and 3.6 percent over the last three months.

The Auckland market went up 17 percent since last year, and 5.5 percent in three months.

QV said large numbers of Aucklanders were flocking to buy properties in Tauranga, Hamilton and the Western Bay of Plenty.

It said there were reports that as many as 60 percent of people turning up at open homes in Tauranga are from Auckland.

Prices in Tauranga have risen 7.3 percent in the past year, and 4.1 in the last three months.

In Hamilton prices are up 4.4 percent compared to a year ago.

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