Arrowtown in Autumn
House Prices in Nelson / Timaru / Queenstown / Dunedin / Invercargill
|Location||August 2018||August 2017||August 2016||August 2015|
|Rangiora / Waimakariri District||$441,900||$434.300||$427,500||$417,400|
|Queenstown – Lakes District||$1,161,200||$1,098,000||$930,200||$731,100|
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 South Island towns. From the selection above, average house values in August 2018 ranged from $272,900 in Invercargill City to $1,161,200 in Queenstown Lakes District.
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'”.
Figures from Quotable Value show that Queenstown Lakes area has the most expensive property values in the South Island. Properties had an average value of $1,161,200 in August 2018. This is an increase of 5.7 per cent from a year ago.
Strong demand from owner occupiers saw Invercargill property values increase by 2.1 percent in August, taking the annual rate to 13.3 per cent – the strongest percentage change in over ten years for the Deep South.
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