New Zealand residential property values continued to rise in January, with strong growth in regional towns close to main centres like Auckland, Wellington and Queenstown, with property set to keep attracting foreign buyers.

The average value of a New Zealand home rose 13.5 per cent to $631,302 in January compared the same month a year earlier, data from state-owned valuer Quotable Value showed. Record migration and low interest rates have bolstered the country’s housing market, prompting the central bank to tighten up lending…