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CoreLogic has released its New Zealand dwelling value results for February, which shows that price momentum continued to gather steam.
Dwelling values nationally surged by 2.6% over February to be up a whopping 7.6% over the quarter and by 14.5% year-on-year.
As shown in the next chart, quarterly value growth is running at its hottest pace since 2005, whereas annual price growth is the strongest since the 12 months to October 2016 (14.8%):
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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.