Property values rise again in April

New Zealand property values rose 0.1% nationally in April, the third consecutive monthly increase. However, this trend may be short-lived as major centres like Auckland and Wellington saw slight price drops.

Economist Kelvin Davidson of Cotality warns that a slowing economy and rising mortgage rates could cause prices to flatten or fall from May. This cooling market could present an opportunity for first home buyers but may disappoint sellers hoping for strong capital growth.