The latest QV monthly house price index has just been released. I’m looking for any signs that the latest round of lending restrictions have begun to impact values. After all, you might expect that dramatically limiting people’s ability to get a mortgage would mean fewer people competing for properties and so the rate of value increase would slow, or even drop.
First of all it is worthwhile taking a look at the table below to see how much values have increased over the past year, and where that now leaves the average value of houses in each centre.
Now to look at whether things have changed in recent months. I always find something visual easier to interpret than tables of numbers, or screeds of words. Here then (below) are two maps of New Zealand showing value change over the past six months based on the monthly index.
Source: QV
Image Source: QV