Government and Reserve Bank efforts to slow house price growth are yet to have an impact. The national average value was $913,209, representing a year-on-year increase of 21.4 per cent, compared with last month's 18.2 per cent rise. Of the 16 major urban centres, all except Napier City and Queenstown Lakes District were showing an increase in quarterly growth. In the South Island, Buller leads all provincial centres with house prices rising 16.6 per cent this quarter. Marlborough and Grey District were not far behind with average house price rises of 13.7 per cent and 13.1 per cent respectively.

Source: New Zealand Herald May 09, 2021 17:15 UTC