House prices in New Zealand grew sharply in September from a year ago, figures from Quotable Value, QV, showed Tuesday.
The QV Residential Price Movement Index surged 14.3 percent year-over-year in September, slightly slower than August's 14.6 percent spike.
Values rose by 4.9 percent over the past three months and are now 49.5 percent above the previous market peak of late 2007, the agency said.
After adjusting for inflation, nationwide house prices rose 13.8 percent annually and values remained above the 2007 peak.
In Auckland, property prices grew 15.0 percent on year and 5.8 percent over the past three months.
"The Wellington market continues to show strong levels of activity and demand. Values in the capital have risen faster than the Auckland region over the past three months and year on year," QV National Spokesperson Andrea Rush, said.
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