A house that sold in Runanga in September was the cheapest of the year so far, Corelogic says.
It has released its latest housing data that shows national property values rose 0.7% in November, the second monthly increase by its measure.
Of the main centres, only Tauranga recorded a decline in values.
Dunedin led with a nearly 3% lift in values and Christchurch closely followed at 2%. Both Auckland and Wellington had property values increase by 1.2%.
At a regional level, areas such as Whangarei, New Plymouth, Kapiti Coast, and Nelson had continued to drift lower in recent months.
The cheapest confirmed sale of the year was 4 Carroll St, Runanga in the Grey District, for $57,000. It had a CV of $70,000.
Davidson said the area had cheap sales because of a lack of demand.
“There are certainly some legacy issues around the West Coast – decline of key industries, loss of people… Still some great locations and great properties, but also some lower-end stock, too.”
Davidson said stock levels were lower than previous years, even during the normal spring influx.
Article by: stuff.co.nz