3 Mar 2015

Property prices continue Auckland surge

12:38 pm on 3 March 2015

The state valuer QV says residential property prices are continuing to surge in Auckland and are inching up elsewhere.

Auckland housing. View from Mount Eden summit

Photo: RNZ / Diego Opatowski

Its latest figures for the year to the end of February showed prices in Auckland rose 13 percent, and 43.8 percent since the pre-crash peak of 2007.

When adjusted for inflation, values were 12.2 percent up in the past year and 23 percent above the 2007 peak.

Nationwide, prices rose 6.4 percent for the year and 20.3 percent above the previous market peak of late 2007.

When adjusted for inflation, the nationwide annual increase was 5.6 percent and 2.9 percent over the 2007 peak.

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