According to the Quotable Value House Price Index, rising interest rates and tightening credit availability appear to be cooling the housing market, but not in the Kaipara District.
The Kaipara saw the highest rise in property values in Northland last year, increasing by 35 per cent, with an average value of $881,865. It has risen by 12 per cent in the last three months alone.
But QV general manager David Nagel says the rest of the country, including Auckland, is seeing signs of slowing down.
He says a growth of 8.3 per cent in Auckland in the last three months may look bullish, but this is largely due to prices at the high end of the market while houses for first home buyers and investors have eased off.
“There are growing signs that the property growth cycle is starting to transition. Real estate agents are reporting a significant upswing in listings, while open home attendance rates are falling.”