15 Feb 2012

Property values continue rise

5:28 am on 15 February 2012

QV says nationwide property values continue to climb.

Values have risen 1.1% in the past three months and are now 2.7% higher than at the same time last year, and 3.3% below the market peak in late 2007.

QV says while values in the main urban and rural areas have increased, they are slipping back in provincial areas.

While unrelated to the QV index, the average sale price during the past three months stood at almost $397,000.

Meanwhile, figures from the Real Estate Institute show the number of houses sold in January jumped 25% compared with the same month last year, with just over 4,000 unconditional sales for the month.

The Institute says it is the best January result the market has recorded since 2008.