14 Jan 2014

House prices up 10% last year

12:50 pm on 14 January 2014

Latest nationwide figures show house prices steadily rising with an overall increase of 10% in 2013.

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Photo: RNZ

Statistics from Quotable Value show the trend continued in December, with prices up 3% over the last three months, and 12.5% above the previous market peak in late 2007.

The increases over the year have been driven by sales in Auckland and Christchurch.

In Auckland, prices went up between 15% - 18%, and in Christchurch, by 12.7%.

Trends in the provincial centre are less clear, with sales dropping in some places.

QV says the outlook for this year is that while sales are likely to slow, they will keep going up, driven by demand in Auckland.