North Island Houses
House Values Whangarei / Hamilton / Tauranga / Napier / New Plymouth / Palmerston North
| Location | August 2018 | August 2017 | August 2016 | August 2015 |
|---|---|---|---|---|
| Whangarei District | $531,400 | $497,500 | $429,900 | $353,400 |
| Hamilton | $559,100 | $544,500 | $518,400 | $400,800 |
| Tauranga | $705,400 | $694,400 | $633,600 | $493,100 |
| Napier | $511,900 | $459,400 | $386,600 | $332,700 |
| New Plymouth District | $386,600 | $332,700 | $393,500 | $362,000 |
| Palmerston North | $398,600 | $362,600 | $325,000 | $294,300 |
Market Analysis
The prices above are average property values from QV.co.nz with data sourced from CoreLogic.
According to data from QV, house values have increased markedly over the past few years in North Island towns. From the selection above, average house values in August 2018 ranged from $386,600 in New Plymouth District to $705,400 in Tauranga.
CoreLogic head of research Nick Goodall said, “Both first home buyers and investors remain active. First home buyers continue to take advantage of the availability of their KiwiSaver funds, while investors appear undaunted by yet more announcements which are likely to impact their profitability.”
He continued, “Potential changes which could impact investors was the government’s Tax Working Group interim report which floated two possible options of ‘tax on capital assets’, designed to make the tax system ‘fairer'”.
Other North Island Towns
The August 2018 average property values from QV were $432,800 in Rotorua District, $478,500 in Taupo District and $318,800 in Gisborne District.
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