Even though there is less activity in the market place house price growth continues to increase.
Latest reports show the average Auckland house price has now topped 1 million.
Quotable Value,s House Price Index revealed the Auckland region average values stood at $1,013,632.00 in August up 15.9 %on the previous year and 6.1% over the last 3 months.
Average value of a New Zealand home rose 15% from the previous year to $612,527.00 in August still slower than the 16 % gain in Auckland,
Values are 85.5% higher than their previous peak of 2007.
Record migration ,investor demand and low interest rates have bolstered this hugely and they still keep talking about affordable housing.
The cost of building is not coming down it is going up and will continue to do so with the current and future demands the industry has ahead.
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