Photo: Getty ImagesHouse price growth has eased for the third month in a row suggesting efforts to cool the market may be working. Quotable Value's three-month average House Price Index to the end of July rose 4.3 per cent over the month earlier, which was down from 6.6 per cent growth in the month earlier. "Three-monthly value growth has more than halved since April when it was rocketing along at 8.9 percent," QV general manager David Nagel said. In July, the average rate of house price growth crept back up to 1.9 per cent, even as the rolling three-month average dipped from 7.8 per cent to 6.2 per cent. "This suggests that residential house prices have been less affected by winter than we normally might have expected,” said Brownie.

Source: Otago Daily Times August 10, 2021 20:37 UTC