Home values in Auckland are still increasing but at a slower rate than last month, according to the latest QV report.
A QV spokesperson says recent measures introduced by the Government and the Reserve Bank to address house price inflation could be one of the factors causing a 'softening' effect that is now being felt in the Auckland market for the first time in many months.
Though the statistics say the price of housing in Auckland hadn't eased dramatically, the activity is "well down" on previous months.
The average value in the Auckland region is now $931,807 while the average value nationwide is now $555,729.
Nationwide residential property values for November had increased 15 percent over the past year which is the fastest rate since February 2006.
Values in the former Auckland City Council suburbs have increased more than 22 percent since November last year and more than 6 percent over the past three months. The average value there is now $1,095,480.
Houses being sold at auction are being reported by some agencies to be as low as 30 percent, where previously it had been 85 percent.
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