Ray White Now New Zealand - September Edition - Page 10

Change in Property Values
Provincial Centres
Month
Quarter
Annual
Average Value
Queenstown
1.5 %
7.1 %
18.9 %
$ 1,385,126
Nelson
1.9 %
5.0 %
19.1 %
$ 789,468
Invercargill
0.8 %
2.8 %
20.9 %
$ 437,590
Rotorua
-3.3%
1.9 %
21.1 %
$ 650,546
New Plymouth
1.5 %
4.1 %
24.8 %
$ 641,340
Whangarei
1.9 %
3.4 %
26.6 %
$ 732,434
Napier
2.6 %
2.8 %
31.8 %
$ 815,597
Porirua
1.9 %
6.0 %
33.9 %
$ 932,837
Lower Hutt
0.9 %
7.7 %
34.3 %
$ 922,578
Hastings
2.5 %
6.7 %
34.5 %
$ 798,087
Kapiti Coast
-0.2%
3.3 %
35.0 %
$ 910,925
Upper Hutt
1.8 %
6.6 %
35.2 %
$ 871,942
Gisborne
1.0 %
2.1 %
35.5 %
$ 591,320
Palmerston North
1.2 %
8.3 %
38.4 %
$ 714,036
Whanganui 3.8 % 7.3 % 40.1 % $ 520,415
Source : corelogic . co . nz
Housing stock , in regard to property for sale , is at a record low , with shortages in eight regions and also nationally . As of 1 September , there were 31.9 per cent fewer properties for sale . Some areas have seen their housing stock more than halve over the last 12 months , including Coromandel , Northland and Nelson Bays . Canterbury ( -49.6 per cent ), the West Coast ( -52.6 per cent ), Central Otago / Lakes District ( -47.7 per cent ), Southland ( -41.4 per cent ), and Taranaki ( -24.9 per cent ), also hit 14-year record lows .
Wairarapa and Gisborne were the only regions that saw housing stock increase — In the Wairarapa there were 130 homes available to purchase in the region last month — up a mere 1.6 per cent since last year . The West Coast ( -35.9 per cent ), Hawkes Bay ( -32.7 per cent ), and Southland ( -27.0 per cent ) also had noteworthy dips in new listings compared to this time last year .
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