Dunedin housing market ‘buoyant’

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Dunedin housing market Dunedin residential property market remains “buoyant”, QV property consultant Tim Gibson says.

Mr Gibson said the latest QV House Price Index data for February reveals Dunedin residential property values rose 18.1% in the year to February 2020 and by 4.9% in the past three months.

“Properties in the lower to medium price brackets are attracting a high level of demand from a wide range of buyer groups.”

The average house price in Dunedin hit $530,262, slightly up from the January average house price of $527,101.

QV general manager David Nagel said the average value nationally has increased 5.3% year on year, rising to $722,475.

“Of the main centres, the Wellington region has usurped Dunedin this month with quarterly value growth of 5.4%, but Dunedin remains with quarterly growth of 4.9%.

“Dunedin has recorded annual value growth of 18.1% which is still well ahead of the other main centres with the Wellington region a distant second at 10.8% annual growth.”

Of the smaller cities, Whanganui and Gisborne remain the top North Island performers recording annual value growth of 29.1% and 24.9% respectively.

Invercargill leads the way in the South Island with annual growth of 19.3%.