In the four years to 31st May 2014 the average property value has risen nearly $80,000 according to QV.co.nz property trends graph.
In May 2010 the average property value was $397,396 and in May 2014 it was $471,491. Will the trend continue? Possibly for a while longer especially in the growth regions of New Zealand like Auckland.
In Auckland the average value for a residential property in May 2010 was $530,253 and at the same time this year it was $713,709. This is an increase of $183K or $45K a year.
New Zealand’s other regions haven’t faired as well but the trend is still upwards. In Wellington the average property was worth $433,938 in May 2010 and at the same time this year it was worth $452,099. This was an increase of just $18,161 or $4.5K per year.