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Rising house prices hindered by interest rates

Author
Newstalk ZB,
Publish Date
Fri, 1 Dec 2023, 8:06AM
Photo / Getty Images
Photo / Getty Images

Rising house prices hindered by interest rates

Author
Newstalk ZB,
Publish Date
Fri, 1 Dec 2023, 8:06AM

Wellington's housing market is ending the year on an upwards trajectory. 

Latest One Roof-Valocity figures show the nationwide average property value has jumped 2% in the past three months, to reach $968 thousand. 

Wellington prices are up 2%, while Auckland's are up 2.5% and Canterbury's are up 1.7%. 

OneRoof Editor Owen Vaughan says interest rates are still inhibiting price growth. 

He says while we've dusted ourselves off and we're getting back on our feet, we're not seeing the rampant growth we saw during the boom time. 

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