Property Market Growth Slows Down, QV Reports

New Zealand's property market has seen a general slowing in growth with home values increasing across the main centres, but at a reduced rate, according to QV's latest House Price Index.

While Rotorua and Tauranga recorded the most growth, new listings and greater stock have helped balance demand and suppress competition, which has led to the stalling of growth.

QV predicts that prices will continue to grow at a similar rate over the next few months, but will slow in the autumn as interest rates remain high and inflation reduces.

Additionally, the expected reintroduction of interest deductions for property investors and high migration rates are expected to continue to place pressure on the market.