House values losing ground
By Wayne Thompson 4:00 AM Monday Jul 12, 2010

QV Valuation's June index - calculated from the previous three months' market figures - is 5.2 per cent above the same period last year. This followed the 5.6 per cent reported last month, which was down on the 6.1 per cent of the previous month.

The national average house sale price actually rose to $404,715 last month from $403,070 in May but because of a change in types of sales taking place.

Glenda Whitehead, of QV, said winter sales levels were 20 per cent below the long-term average. Fewer new properties were coming to the market. However, this was normal for the season rather than due to the Budget's measures on property.

Any impact on the market would take over 12 months to measure as various tax changes were brought in.

Ms Whitehead said buyers were very cautious and selective and properties with perceived flaws such as structural problems, or poor maintenance, were proving harder to sell.

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