The property market - bottomed out?

There are indications today that house prices - falling since late 2007 - may finally have bottomed out.

The property market stabilised in April and even managed to register a tiny increase in an index measure of the national market, according to QV Valuations.

There was a 9.2 per cent decline in property values over the last year in the April figures, which was a slight improvement on the 9.3 per cent decline reported last month.

This is the first time the trend in property values has improved since September 2007. Property values peaked in January 2008 and are now 9.6 per cent below that peak.

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Posted: 11 May 2009

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