RTTNews - The average house sale price increased by NZD 10,000 to NZD 507,384 in July compared to the previous year, New Zealand's largest real estate company Barfoot & Thompson said Wednesday. Meanwhile, housing sales grew 23.8% to 779 properties.

The market is showing no signs of giving up the gains made over the prices and sales volumes recorded last year, said Managing Director Peter Thompson.

On a monthly basis, the average house prices dropped 2.8% in July, while the sales volume slipped 9.5%.

There were 1386 properties listed for sale in July, marking an increase of 16.6% compared to the previous month and 18.4% growth from a year ago.

Meanwhile, the average weekly rent increased by NZD 4 annually in July and the number of properties let up 11%.

Overall, July activity can be seen as a month which emphasised that Auckland housing has found a new base, Thompson said. People are feeling comfortable with current prices and trends.

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