Auckland house prices rise slightly in January

Latest figures from QV show that house prices in Auckland rose slightly in January.

The former Auckland City Council central suburbs saw values rise 1.7% in the year to January and 1.8% over the three months. Auckland City - East continues its steady growth, up 2.9% year on year and 2.7% over the past three months, the average value there is now $1,576,640. Finally, Auckland City - Islands maintained its strong growth, up 12.6% over the past year and 4.7% over the last three months.

North Shore values also ticked up again rising 1.2% in year on year and 2.3% over the last quarter. Waitakere values also rose 0.5% over the past three months although values were down 1.6% in the year since January 2017.

Meanwhile, values continue to increase in both Rodney and Franklin. Papakura showed particularly strong growth again rising 2.4% year on year and 2.3% over the last quarter. Finally, Manukau continued the upward trend, up slightly 0.3% year on year and 1.2% over the last three months.

QV's Auckland Property Consultant William Liew said "January, as is often the case, was relatively quiet due to the holiday period. The signs do suggest that the heat has been taken out of the market and buyers are showing less urgency"

"We have also seen the ongoing impacts of the LVR restrictions, changes of lending criteria and uncertainly with the change of government, which have contributed to a cooling in the Auckland market."