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QV’s Residential Price Index for October shows property values in Tauranga are 0.5 per cent lower than they were at the same time last year.
QV’s Residential Price Index for October shows property values in Tauranga are 0.5 per cent lower than they were at the same time last year.The index shows values have been flat for most of the year, but there are signs of slight increases in recent months.
A graph detailing the decrease in property values.
The average sales price for Tauranga in October was $402,667.
QV Valuations spokesperson Shayne Donovan-Grammer says the traditional lift in activity during spring hasn’t eventuated.
“Perhaps the world cup, shipping disasters and the school holidays have drawn some attention away from the property market.
“Low interest rates have given the market a much needed level of composure during what has been a prolonged stagnant period.”
He says with other household expenses rising, and discretionary income tightening, low interest rates have helped to contain what is often a household’s biggest expense – the mortgage.
QV’s Residential Price Index is calculated using sales data from the three months
Posted on 11-11-2011 07:21 | By Mr bay
If its that bad here why don’t you leave.....we don’t need the negativity in Tauranga