We use cookies to provide some features and experiences in QOSHE

More information  .  Close
Aa Aa Aa
- A +

Pace of property value gains almost halves in 2017 as market cools

5 2 1
12.01.2018

New Zealand property values rose at almost half the pace of the prior year in 2017 as tighter lending criteria, restrictions on highly leveraged loans, and electoral uncertainty took the wind out of the local housing market, Quotable Value says.

National residential property values rose 6.6 percent to $669,565 in calendar 2017, almost half the 12.5 percent gain of the prior year and well off the 14 percent increase in 2015. Still, state-owned valuer QV figures show property values were 62 percent higher than the 2007 peak as cheap finance and a mismatch between housing supply and demand pushed up sale prices for several years during a period of solid economic growth.

That momentum subsided last year as the prospect of........

© The National Business Review