Residential property prices in Auckland have increased 14.6% year on year according to the latest QV Residential Price Movement Index.
The Auckland region continued to see a fast paced rise in residential property values with the number of sales in March reaching levels not seen since 2007 and values rising very quickly across the city.
Auckland City home values were led by Auckland City-South which continued to see massive increases - up 5.5% over the past three months and a whopping 19.2% year on year. Values there rose 13.8% since November alone showing how much the market has moved just in the past six months. Auckland City-East values were up 3.3% since February and 15.5% year on year. Auckland City-Central values were also up 5.0% over the past three months 11.2% year on year.
Waitakere City values continued to surge ahead, up 5.7% over the past three months, 16.4% since April last year and values there are now 51% higher than during the peak of 2007.
In Manukau, Manukau-East values rose 5.3% over the past three months, and 13.6% year on year; Manukau-North West values also rose by 4.7% over the past three months and they were up 17.6% year on year; while Manukau-Central values 4.9% since February and 13.6% year on year.