Are the house prices going down in Auckland?
Not according to QV house prices index they haven't.
QV predicts that the Auckland value growth will slow a little in the coming months while other areas pick up through until December. Some real estate figures have shown the median sales price to have dropped, but the median sales price tends to drop every year between July - August, and there has been more activity at the lower end and less at the top which pulls the median values down
Auckland is up 22.6% annually or 6.7% over the past three months. The fastest increases in Papakura at 11.4% and Manukau at 9.0% over the last three months. This shows more interest around the outer parts of Auckland due to affordability.
Hamilton has experienced a large increase (according to the index) is up 9% over the previous three months - making that the fastest rate of increase in Hamilton since 1989!
Worth noting also is that the monthly index is based on the previous three months of sales data so based on this, in the past month they have increased at a rate of more than 6% per month - now that is what I call a superb investment return!