Slow and steady growth appears to be on the cards for Aotearoa New Zealand’s housing market in 2024, as evidenced by a general stalling in home value growth this quarter.
The latest QV House Price Index shows home values have increased across all of the main urban centres we monitor, but at a reduced rate overall. The average home value increased nationally by just 0.6% throughout the December quarter to $905,070, down from the 2.3% quarterly home value increase reported at the end of November.
Across the main centres, Rotorua (6%) and Tauranga (3.3%) recorded the most home value growth on average in the December quarter, with the latter recovering from a small deficit in the previous month’s figures. New Plymouth (0.4%) recorded the smallest increase on average, while Auckland (1.9%), Wellington (2.4%) and Christchurch (2.5%) continue to experience relatively robust growth by national standards.
Quotable Value (QV) operations manager James Wilson said the latest data demonstrates how volatile value tr
