House prices end year only 4.9pc off late-2007 peak

Nationwide house values ended 2009 just 4.9 per cent below the late-2007 peak, having been as much as 9.6 per cent below the peak last April, QV's residential index for December shows.

While the recovery was led by the urban centres, QV (Quotable Value) is now seeing signs of confidence returning to provincial markets.
 
For the whole of 2009, New Zealand house values rose 2.8 per cent, with an average sale price of $404,671 in December, up from $393,373 in November, when prices were 5.9 per cent below the peak.
 
The year had shown a dramatic and somewhat unexpected level of turnaround in house values, QV said in publishing the December figures today.
 
After reaching their peak in late 2007, house values dropped steadily throughout 2008.
 
At the beginning of 2009 two camps developed - those that considered the market had much further to fall, and those that considered it was near the bottom, and perhaps heading towards a good time to buy.

 

To read the full NZ Herald article, click here

Posted: 11 Jan 2010

News articles

Browse articles
by date

September 2013

July 2013

June 2013

May 2013

December 2012

November 2012

September 2012

June 2012

April 2012

March 2012

February 2012

January 2012

December 2011

November 2011

October 2011

September 2011

August 2011

July 2011

June 2011

May 2011

April 2011

March 2011

February 2011

January 2011

December 2010

November 2010

October 2010

September 2010

August 2010

July 2010

June 2010

May 2010

April 2010

March 2010

February 2010

January 2010

December 2009

November 2009

October 2009

September 2009

August 2009

July 2009

June 2009

May 2009

April 2009

March 2009

February 2009

January 2009

December 2008

November 2008

October 2008

September 2008

May 2008

April 2008

March 2008

Please disregard these fields.


banner ad