3 Feb 2015

Property values accelerate, again

4:46 pm on 3 February 2015

The pace of house price inflation has started to accelerate again, led by Auckland.

Quotable Value said the average property price nationally rose by 2 percent in the past three months, and 5.7 percent in the year to January.

Prices are 19 percent higher than at the previous peak in late 2007.

QV spokesperson Andrea Rush said while Auckland's prices surged 11.6 percent, gains have been muted in other parts of the country.

"I would definitely say that we are seeing a continued acceleration of values in Auckland. And while yes, the other main cities and main provincial centres are also showing increases, they are way more moderate."

Ms Rush said strong demand in Auckland reflected pent-up demand after last year's election, a limited number of listings and falling fixed mortgage rates.

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