House prices trending up

House prices are trending up in Hawke's Bay.

Hawke's Bay house prices continue their upward trend.

According to the QV House Price Index for October, Napier values increased by 1.7 per cent over the past three months and 2.2 per cent for the year. They are now 1.4 per cent below the previous peak of 2007.

Residential property values in Hastings increased by 1.7 per cent over the past three months and 6.1 per cent year-on-year. Values are now 1 per cent above the 2007 peak.

QV valuer Michelle Drinkrow said the market was "moving along nicely with strong activity and demand".

"The $250,000 to $350,000 price bracket is the most popular with interested buyers needing to act quickly to secure desirable properties in this price bracket which is the first-home buyer and investor end of the market," she said.

"We are still seeing a small amount of on-going activity from out-of-town investors but this is not that significant."

"There is still a lack of listings particularly listings of good quality, well-presented properties," she said.

"Lifestyle properties are selling well and are following fairly similar trends as residential property, particularly for those that are close to town. Those that are more remote often struggle to get offers and tend to sit on the market for longer."