Hawkes Bay Today
  • Hawke's Bay Today home
  • Latest news
  • Sport
  • Business
  • Opinion
  • Lifestyle
  • Property
  • Video
  • Death notices
  • Classifieds

Subscriptions

  • Herald Premium
  • Viva Premium
  • The Listener
  • BusinessDesk

Sections

  • Latest news
  • On The Up
  • Sport
  • Business
  • Opinion
  • Lifestyle
  • Property
    • All Property
    • Residential property listings
  • Rural
    • All Rural
    • Dairy farming
    • Sheep & beef farming
    • Horticulture
    • Animal health
    • Rural business
    • Rural life
    • Rural technology

Locations

  • Napier
  • Hastings
  • Havelock North
  • Central Hawke's Bay
  • Tararua

Media

  • Video
  • Photo galleries
  • Today's Paper - E-Editions
  • Photo sales
  • Classifieds

Weather

  • Napier
  • Hastings
  • Dannevirke
  • Gisborne

NZME Network

  • Advertise with NZME
  • OneRoof
  • Driven Car Guide
  • BusinessDesk
  • Newstalk ZB
  • Sunlive
  • ZM
  • The Hits
  • Coast
  • Radio Hauraki
  • The Alternative Commentary Collective
  • Gold
  • Flava
  • iHeart Radio
  • Hokonui
  • Radio Wanaka
  • iHeartCountry New Zealand
  • Restaurant Hub
  • NZME Events

SubscribeSign In

Advertisement
Advertise with NZME.
Home / Hawkes Bay Today

Property values show modest rise

By Lydia Anderson
Hawkes Bay Today·
8 Jun, 2014 07:52 PM2 mins to read

Subscribe to listen

Access to Herald Premium articles require a Premium subscription. Subscribe now to listen.
Already a subscriber?  Sign in here

Listening to articles is free for open-access content—explore other articles or learn more about text-to-speech.
‌
Save

    Share this article

The region is on a slow but steady path to some sustainable growth according to one property broker.

The region is on a slow but steady path to some sustainable growth according to one property broker.

Hawke's Bay property values have posted a marginal rise, as homeowners brace for another possible interest rates hike next week.

Figures from state valuer Quotable Value show Central Hawke's Bay values led the way with a 2.3 per cent increase in the year to May to an average value of $210,538, followed by Napier which recorded a 0.6 per cent increase to $324,721.

Hastings was close behind, with average values rising 0.5 per cent to $301,547.

Across the region, values remain down on the 2007 market peak, the figures show.

Property Brokers Hawke's Bay regional manager Paul Whitaker said the region was on a "slow but steady path to some sustainable growth".

Advertisement
Advertise with NZME.
Advertisement
Advertise with NZME.

However as interest rates increased, rents had been "sneaking up" across Hawke's Bay.

Financial experts have predicted the Reserve Bank could raise interest rates again when it makes its next official cash rate announcement next week, putting further pressure on mortgage holders. The official cash rate is expected to rise to 3.25 per cent.

Mr Whitaker said he was anticipating another interest rate rise because Reserve Bank Governor Graeme Wheeler "doesn't play games, he follows through".

Advertisement
Advertise with NZME.

Nationwide, property values jumped 8.2 per cent over the past 12 months to $471,791, and are up 13.9 per cent on the 2007 market peak.

However, the increase was mainly driven by the over-heated Auckland and Christchurch markets.

QV national spokeswoman Andrea Rush said while values in all the main centres had increased to varying levels, some areas within the cities were showing decreases and values in many of the smaller regions were flat or decreasing.

"Sales volumes around the country are 10 to 15 per cent lower than they were this time last year which could be a normal winter seasonal effect but it could also be a precursor to values dropping."

The Reserve Bank lending restrictions continued to affect many regions, with slower sales in the first home buyer sector of the market, she said.

Save

    Share this article

Latest from Property

Premium
Hawkes Bay Today

Hastings quarry buys neighbouring vineyard for $3m to expand operation

Premium
Hawkes Bay Today

Two more Hawke’s Bay farms sold to overseas buyers for forestry

Business

House prices down in most regions in year to March


Sponsored

Solar bat monitors uncover secrets of Auckland’s night sky

Advertisement
Advertise with NZME.

Latest from Property

Premium
Premium
Hastings quarry buys neighbouring vineyard for $3m to expand operation
Hawkes Bay Today

Hastings quarry buys neighbouring vineyard for $3m to expand operation

The owner of the quarry says the expansion will help meet 'supply needs for the region'.

08 Jul 06:00 PM
Premium
Premium
Two more Hawke’s Bay farms sold to overseas buyers for forestry
Hawkes Bay Today

Two more Hawke’s Bay farms sold to overseas buyers for forestry

04 May 06:00 PM
House prices down in most regions in year to March
Business

House prices down in most regions in year to March

14 Apr 10:09 PM


Solar bat monitors uncover secrets of Auckland’s night sky
Sponsored

Solar bat monitors uncover secrets of Auckland’s night sky

06 Jul 09:47 PM
NZ Herald
  • About NZ Herald
  • Meet the journalists
  • Newsletters
  • Classifieds
  • Help & support
  • Contact us
  • House rules
  • Privacy Policy
  • Terms of use
  • Competition terms & conditions
  • Our use of AI
Subscriber Services
  • Hawke's Bay Today e-edition
  • Manage your print subscription
  • Manage your digital subscription
  • Subscribe to Herald Premium
  • Subscribe to the Hawke's Bay Today
  • Gift a subscription
  • Subscriber FAQs
  • Subscription terms & conditions
  • Promotions and subscriber benefits
NZME Network
  • Hawke's Bay Today
  • The New Zealand Herald
  • The Northland Age
  • The Northern Advocate
  • Waikato Herald
  • Bay of Plenty Times
  • Rotorua Daily Post
  • Whanganui Chronicle
  • Viva
  • NZ Listener
  • Newstalk ZB
  • BusinessDesk
  • OneRoof
  • Driven Car Guide
  • iHeart Radio
  • Restaurant Hub
NZME
  • NZME Events
  • About NZME
  • NZME careers
  • Advertise with NZME
  • Digital self-service advertising
  • Book your classified ad
  • Photo sales
  • © Copyright 2025 NZME Publishing Limited
TOP