Hastings property values edge up

QV's Residential Price Index for June shows property values in Hastings up 0.7 per cent on last year while remaining on average 7.5 per cent below the peak of April 2008. Napier values are 1.7 per cent below where they were a year ago and 7.9 per cent below the peak of December 2007. Central Hawke's Bay are 1.1 per cent below where they were a year ago.

QV's figures are based on the average sale price for the previous three months.

QV Valuer Bevan Pickett said the Hawke's Bay market had been "relatively stable yet subdued" with low levels of activity.

"Value levels have shown little movement throughout the past year," he said.

"Potential buyers remain tentative and calculated when making decisions and are generally content to wait for a suitable property before committing."

Nationally property values rose 1.8 per cent for the three months ended June 30.