House-price stability on the way back

The drop in house values slowed in the year to June, says QV Valuations, though its latest survey shows mixed opinions where the market will go over the coming months.

The country's houses lost 7.1 per cent of their value in QV's index, which is calculated over the last three months' market figures compared with the same period last year.

This follows an 8.1 per cent annual decline reported last month, which was an improvement on the drop of 9.2 per cent reported the previous month.

The national average house sale price has increased to $378,535 in June from $371,555 in May.

QV Valuations manager Glenda Whitehead said the sales volume was approaching more normal levels and the market was more stable.

To read the full NZ Herald article click here

Posted: 6 Jul 2009

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