home values continue to fall

"No" sentiment sweeping the real estate market where home sales has decreased by about one third from a year earlier, according to the report in July by QV.

Property values up to 0.8% since March, after rising 4.9% in the last eight months, says QV.

Therefore, these values were 4.1% in the same period last year and 4.7% below the market peak in late 2007.

Lack of buyer demand, is sold with a larger supply of the property caused by the combined values decrease gradually.

However, the average selling price increased slightly from $ 404.715 to $ 407.191, but the relatively small due to lower sales of property values.

"Numbers home sales in recent months has fallen nearly a third last year, and about a third below long term average. We are approaching the same level of turnover in 2008 at the peak of the recession," said Chairman Ingerson Hridoy QV. co.nz research.

More and more people seem conservation plan to buy a house and did not focus on debt reduction. Among the potential buyers are still active, some are difficult to obtain bank loans, while others are in the driver's seat of feelings, have time to do research, and provides only a sharp, "said Ingerson.

"Unlike in 2008 when significant negative feelings in the global economic crisis pushed home values down, now we see more than anything" "feelings."

Auckland area values is 6.9% the previous year. Month increased by 7.9% from the previous year.

the recent fall in value in the Wellington region means that these values are only 3.2% from a year ago, compared with 5.4% last month.

The values have been flat in recent months in Christchurch and is now 4.6% over the past year. Dunedin is now worth 3.7% over last year, compared with 5.8% last month.

Unlike other major centers, the values, both in Hamilton and Tauranga remained fairly stable over the past year. As a result, Hamilton is only 0.3% from a year ago, and Tauranga 0.5%.

The values in most centers in the province remain over the same period last year, although the difference was smaller.

Napier (4.7%), New Plymouth (4.3), Wanganui (2.6%), Palmerston North (2.3), Nelson (3.1) and Invercargill (5.3) all remain in the year above.

Rotorua (1.4%), Gisborne (0.6%) and Queenstown Lakes (-0.2) all have the same amount for the same period last year.

Whangarei continues to fall in value since late 2009 and is now 2.6% below the same period last year.