House values up, but buyers run out of 'urgency'

Property values are 6.1 per cent above the same time last year but buyers are cautious, commentators say.

Quotable Value statistics show the national average sales price last month was down to $407,133 from $416,074 in February.

Nationally, values are 3.9 per cent below the market peak of late 2007.

QV spokeswoman Glenda Whitehead said the first quarter of the year was markedly different from the second half of last year.

"Not only have values remained relatively flat for the past few months, but the urgency among buyers has all but gone."

The usual seasonal increase in listings over the past two months had given buyers more choice, but sales activity remained subdued.

To read the full NZ Herald article click here

Posted: 12 Apr 2010

News articles