House prices rise in many suburbs

The 10-year rollercoaster of Auckland house prices has turned into a downward spiral for many areas - but others are on the rise.

The 10-year rollercoaster of Auckland house prices has turned into a downward spiral for many areas - but others are on the rise.

Last year's price peak and this year's subsequent decline showed up after the Weekend Herald took the latest sales figures from the Real Estate Institute and compared price changes during the past decade.

The chart shows the very low base for prices back in October 1998, the big climb in the following six to eight years and then this year's drop.

But many Auckland suburbs had price rises in the past year.

Although Mt Eden was down from $707,000 to $580,000 between September last year and September this year, the latest figures showed prices there rose by $80,000 when the October months were compared.

Same for other areas. Devonport prices were up by $116,000 from last October, Waitakere's up $105,000, Albany's up $17,000, Upper Harbour's up $74,000 and Henderson's up $21,000.

But prices in areas such as the prime eastern suburbs fell $25,000 in the year, as they did in a large number of other areas.

To read the full NZ Herald article click here

Posted: 15 Nov 2008

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