4 Sep 2014

Property values continue to slow

4:37 pm on 4 September 2014

The pace of growth in property values has continued to slow.

Quotable Value's monthly index of house prices rose 6.9 percent over the year to the end of August.

That compares with annual growth of 7.6 percent in the July year.

Auckland rose at a slower pace of nearly 11.5 percent, while Christchurch rose at a slower 5.9 percent.

QV said the pace of growth has been declining since September last year, and continues to do so.

It said sales and home loan approvals fell last month compared with the same period a year ago, while mortgage restrictions, rising interest rates and the forthcoming general election have deterred people from putting their house up for sale.

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