Monthly Movements

The Home Value Index aims to measure month to month movements in the value of New Zealand's housing markets. Rather than relying solely on transacted sale prices to provide a measure of housing market conditions, the CoreLogic Home Value Index is based on a 'hedonic'’' methodology which is trained on transacting properties, and then imputes a value for each observable property in an area. The imputed value considers the attributes of individual properties as part of the analysis.

Understanding factors such as the number of bedrooms and bathrooms, the land area and the geographic context of the property allows for a much more accurate analysis of true value movements across specific housing markets. This method also allows for compositional change in consumer buying patterns when measuring capital gains.

The Home Value Index provides monthly capital growth measurements across main housing types: detached houses, flats/townhouses, apartments, lifestyle properties and a combined dwellings index.

CoreLogic's hedonic indices, as well as other products based on the hedonic methodology, are revised each month for 12 months inclusive following the initial reported date. This revision ensures the longevity of the historical index values by incorporating all relevant transactions into historical figures as they become available.