The latest QV House Price Index for July 2022 has confirmed a gradual drop in home values across the Eastern Bay.
The report shows the Whakatane District has decreased by -2.7% over the past three month period with the average value now sitting at $776,612. This represents an annual growth rate of 14.2%.
The Ōpōtiki District has decreased by -1.9% over the past three months with the average value now sitting at $585,098. The Ōpōtiki District experienced an annual growth rate of 6.8%..
Homes in the Kawerau District have decreased in value by -0.7% over the past three months with the average value now sitting at $420,530. This represents an annual growth rate of 2.1%.
Nationwide, the average home decreased in value by 4.9% over the past three months with the average value now sitting just below $990,000.