Houses prices up $125 a day

By ANNE GIBSON

The median price of an Auckland house rose by $125 a day in the past year, according to figures based on January sales and released by one of the city's largest agencies, Barfoot & Thompson.

It found median prices for Auckland houses rose from $312,453 in January last year to $358,270 last month, rocketing ahead in the 12-month period by $45,817.

Barfoot & Thompson director Peter Thompson said prices even held up during the traditionally quiet pre-Christmas period and he was hoping for a "steady and solid" year, citing the number of February sales so far as a good omen.

Thompson said late last year that homes in the superheated Auckland property market had been rising by nearly $500 a day, citing a rise of $483 every day in September.

The average Auckland house price shot from $325,831 in August to $340,329 in September, according to statistics gathered from deals his agents had done.

This means average prices in the country's hottest housing market rose $14,498 in the 30 days in September - one of the largest price jumps on record.

The price surge suggests a house selling for $300,000 at the start of September could be worth $358,926 by the end of the year.

Rents were still rising in Auckland, Thompson said, up from an average $324 in December to $330 in January.

"Last month was busy for us in terms of rental properties, with a large influx of students into Auckland looking for rental accommodation, and that pressure is likely to continue into this month."