Spring rise for Auckland house sales continues

Photo / Glenn Jeffrey.

Auckland's property market is continuing its traditional spring bounce, according to new numbers from Barfoot & Thompson, the region's largest real estate firm.

Its agents sold 917 homes during September, its second highest for any month in 2009. The average price was $514,890 - an increase of 3.8 per cent when compared to the same month last year.

"This was the third consecutive month our average price for the month exceeded that for the corresponding average in 2008, and I take that as a good indicator that house prices on a year on year basis have stopped falling, said company managing director Peter Thompson.

While sales were up, Thompson said prices were 'not overheating' - with the average September price last month down 3.2 per cent from the month before.

"There was a better balance and controlled feel to the market in September than has been the case for some time," he said. "This was assisted by the number of new listings in the month, which at 1466 were up 12 per cent on August's new listings, but there was also a feel that the market was settling down.

Thompson said "the views of buyers and sellers as to what is a fair price are coming closer together."

He said the number of homes sold during September showed that market activity was returning to normal, and a contributor to the rise in sales was the traditional spring 'bounce'.

"It shows that Aucklanders are prepared to put aside their concerns about the economy over the medium term, and are starting to act on their plans around their future."