House values are still rising, recording their third straight increase in April, but higher interest rates are expected to slow the market over coming weeks.
Quotable Value's residential house price index is up 10.6 per cent compared with the same time last year. The average national sale price for April rose slightly on March, to reach $366,000.
QV says the market continued unabated in April, on the back of stronger-than-expected migration, and continuing high employment. However spokesman Blue Hancock says higher interest rates and the arrival of winter means the market will start to slow.
House prices in Wellington rose 13.4 per cent on a year ago, Christchurch rose 11.8 per cent and Auckland was 6.6 per cent higher.
- NEWSTALK ZB