Residential property values continue to rise and the latest QV house price index says values are rising at the fastest rate in eight years.
Values to August increased 11.3% in the past 12 months and 3.9% in the past three months. Values are now 29% above the previous market peak of late 2007.
The August figures are again dominated by Auckland and the increases are not so marked in the South, where only Queenstown Lakes came close to the national average, showing a 9% rise in the past year to $731,093 and 1.9% in the three months ended August.
The district's house prices are now 6.3% higher than they were at the peak in 2007.
Waitaki had a 4.2% annual rise to $229,153 and a quarterly rise of 0.7%.
Dunedin values rose 3.7% annually to $299,508 and were up 2.1% in the quarter. Within the city, Dunedin North and Central showed stronger annual growth at 4.8% and 2.8% quarterly growth and the average value of dwellings there is now $310,993.
Peninsula and coastal was up 3.9% annually to $275,543 and 0.5% in the quarter and Dunedin South was 1.6% annually and 1.8% quarterly, to an average value of $284,394.
Taieri values rose 1.6% annually to $309, and 1.8% in the quarter. Clutha values fell 0.5% to $165,313 and Gore increased 0.4% to $186,950.
QV home value Dunedin registered valuer Duncan Jack said yesterday sales numbers and listings remained low in Dunedin but buyer interest appeared to be increasing as spring approached.
''Anecdotal evidence suggested open homes are being well attended, particularly the low to mid value properties. Multi offer scenarios are also being reported, again mainly the low to mid value properties.
''The overall outlook in Dunedin is positive at present and value levels are slowly and steadily increasing,'' he said.
The average value in Dunedin of $299,508 made it one of the most affordable main centres in which to buy a house, he said.
In the South Island, most places showed moderate value increases, while some were flat and only a few places had values decrease.
The Queenstown Lakes district's value was higher than anywhere in the country, apart from the Auckland region. The Buller district (down 7.6% for the year) still had the largest decrease.
QV national spokeswoman Andrea Rush said Wellington and Christchurch markets remained flat, while Dunedin was showing a steady rise.
High prices and lower yields in the Auckland market appeared to be encouraging investors to look to regional centres for investment properties.
The new rules due to come in by next month, requiring a 30% deposit for investment property in the Auckland region, and a softening of the loan to value ratios for the regions, also might be a factor driving that activity, she said.
More listings were coming on to the market but sales numbers were up 25% compared with this time last year and stock levels remained tight in many places.
