RTTNews - Traditional spring bounce lifted activity in Auckland's housing market, a report by Barfoot and Thompson said.
The average house prices increased 1.5% year-on-year to NZ$532,023. During the month, 830 properties were sold, rising 6.5% from July and 65.3% from August last year.
Buyers feel prices are attractive, they can afford the repayments, and are comfortable about their future job prospects, Peter Thompson, Managing Director of Barfoot & Thompson said.
However, it's not a case of the market taking off. Rather, the mood is one of quiet confidence that the time has arrived to act, Thompson added.
During the month, 1,309 properties were listed, the second consecutive month the new listings were above the 1,300 mark.
Meanwhile, properties on the books stood at 5,212 at the beginning of September, the lowest number in 19 months. Given current high sales activity, we would anticipate more sellers will now enter the market, Thompson added.
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