Homes in Carterton lead value table

Carterton still leads the regional pack in year-on-year property value growth in Wairarapa, the latest QV figures show.

The average current value of a Carterton property is $250,985. A 3.6 per cent rise in value for the town was posted over the past 12 months despite a 2.4 per cent fall over the past three months.

The average current value of a Masterton property last month was $239,437 with a 0.1 per cent year-on-year fall posted despite a 3.9 per cent rise over the past three months.

In South Wairarapa, the average current value was $289,688 while a 0.7 per cent fall in property value was recorded over the past 12 months and over the past three months a 0.4 per cent rise was posted.

Provincial areas such as Wairarapa "generally" remained steady last month, said Jonno Ingerson, QV.co.nz research director.

"It is mainly areas in the middle of the North Island, such as Taupo, that saw decreases in values over the past three months," he said.

"Areas such as Hawke's Bay and Wairarapa are seeing most activity in the lower end of the market with buyers cautious and sellers realistic on regard to price expectations."

Mr Ingerson said in contrast, towns such as Whangerei and Gisborne, which had earlier seen values decline, now continued to grow in the past few months.

He said residential values nationally increased further last month with the annual change in values remaining at 7.1 per cent, with an increase of 1.7 per cent over the past three months.

"Nationwide values continue to climb strongly, but that isn't the case right across the country. Values are increasing fastest in Auckland and to a lesser extent Christchurch, with both cities driven by a lack of supply," he said.

"The rest of the main centres are also increasing in value, although at a much more modest rate, reflecting a general increase in consumer confidence. Values are more variable in the rural towns in response to local economic conditions."