Listings rise and prices fall

The Auckland housing market is "settling down", with real estate company Barfoot & Thompson reporting a rise in listings and a fall in prices last month compared to August.

Barfoot & Thompson said it sold 917 homes in September - the second-highest monthly total for 2009 - at an average price of $514,890. The price was 3.8 per cent up on a year earlier, but down 3.2 per cent on August.

Barfoot & Thompson managing director Peter Thompson said prices were not overheating.

The fall in the average price from August showed monthly variations were still happening.

"There was a better balance and controlled feel to the market in September than has been the case for some time," Mr Thompson 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.

"The views of buyers and sellers as to what is a fair price are coming closer together," he said.

During September Barfoot & Thompson also let 701 houses and units at an average weekly rent of $384.

- NZPA