© New Zealand Broadcasting School 2019

Residential value of Kiwi properties at nearly $1 trillion

Lydia Clarke
House
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Property Institute and property market data company, Valocity, shows New Zealand housing has gone up over 40% since 2015.

The data showed Christchurch residents the, good and bad, news of property buying in the last few years.

Property Institute and property market data company, Valocity, showed the value of Christchurch housing has gone up over 10% since 2015. 

If you're looking to spend the big money, the most valuable suburb is Kennedys Bush with a median price of $1.1 million.

If you're saving, then the most reasonably priced suburb is Aranui with a median value of $281,000. 

The Christchurch suburb, Edgeware, has had the biggest movement with an increased value of 36%. 

 "The country is now worth more and property owners are wealthier than they were three years ago," Property Institute of New Zealand Chief Executive Ashley Church, said

"This also means property is more expensive and its hard to get into the market," Church said.  

Price growth in 2017 of residential property value: 

- Auckland is now worth $469 billion (up from $344 billion in 2015)
- Wellington is now worth over $88 billion (up from around $60 billion in 2015)
- Christchurch is now worth over $67 billion (up from around $60 billion in 2015)
- Tauranga is now worth over $34 billion (up from around $21 billion in 2015)
- Hamilton is now worth around $28 billion (up from around $18 billion in 2015)
- Dunedin is now worth almost $17 billion (up from around $12 billion in 2015)