Winter Chill Affects Property Value

July 7, 2018

Quotable Value reports that property values across the whole Wellington Region rose 4.8% in the year to June although dropped 0.8% over the past quarter and the average value is now $639,112.

 

QV Wellington Senior Consultant, Paul McCorry said the Kapiti Coast rose 9.6% year on year and 1.4% over the past three months adding that value growth continues to moderate as we enter the winter months. Sales activity is subdued, with low listing numbers.

 

He says demand remains high from first home buyers, with many taking advantage of less competition at open homes and auctions through winter.

 

Overall, he says, despite a slowdown in the rate of value growth, market conditions remain strong with key indicators such as low interest rates, strong net migration and demand still far outweighing supply in terms of new development.

 

 

 

 

 

 

 

 

 

 

 

 

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