{"id":592410,"date":"2026-09-07T00:20:16","date_gmt":"2026-09-07T00:20:16","guid":{"rendered":"https:\/\/www.newsbeep.com\/nz\/592410\/"},"modified":"2026-09-07T00:20:16","modified_gmt":"2026-09-07T00:20:16","slug":"qv-says-average-dwelling-values-fell-1-9-over-winter-in-slow-deterioration","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/nz\/592410\/","title":{"rendered":"QV says average dwelling values fell 1.9% over winter in ‘slow deterioration’"},"content":{"rendered":"

Quotable Value (QV) says housing values continued to soften over winter with the market remaining firmly in buyers’ favour.<\/p>\n

According to the QV House Price Index, the national average residential property value declined by 1.9% to $894,977 over the three months to the end of August.<\/p>\n

That was the largest quarterly decline in two years. It means the average dwelling value is now 1.7% lower than it was at the start of the year, and 1.3% lower than August last year.<\/p>\n

According to the Index, average values declined in all major urban areas over the three months to August except Queenstown, up 1% and Invercargill and Timaru, both up 0.1%.<\/p>\n

The biggest decline in value in the main urban districts was in Gisborne -5.0%, followed by Greymouth -3.7%, Wellington City -3.5%, Hastings -2.9% and Auckland -2.7%.<\/p>\n

QV Spokesperson Simon Petersen said the latest figures show buyers remain firmly in control as the market heads into spring.<\/p>\n

“Buyers have plenty of choice,” he said.<\/p>\n

“They’re taking their sweet time, they’re negotiating hard and they’re prepared to walk away if the numbers don’t stack up. That’s putting downward pressure on property values,” Petersen said.<\/p>\n

However, Petersen said it was a slow decline.<\/p>\n

“It’s more a slow deterioration rather than a sudden correction,” he said.<\/p>\n

“The market has been flat to gently falling for some time, and those smaller movements are now starting to add up in some parts of the country,” Petersen said.<\/p>\n

The tables below show the main value changes around the country.<\/p>\n

<\/p>\n

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QV House Price Index – Auckland Region – August 2026<\/p>\n

<\/p>\n

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QV H0use Price Index – Wellington Region – August 2026<\/p>\n

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QV House Price Index – Canterbury – August 2026<\/p>\n

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