Â 3 September 2009
One of Aucklandâ€™s largest real estate agencies has reported that Aucklandâ€™s property market is showing good signs of movement with house sales in August up more than 65 percent on the same month last year.
Average prices were also up slightly from August last year, rising 1.5 percent to $520,023.Â They also saw an improvement on their previous monthâ€™s sales, up 6.5 percent.
â€œKeen interest has returned to the Auckland marketâ€¦â€ said Peter Thompson, company managing director.
â€œHowever, itâ€™s not a case of the market taking off.Â Rather, the mood is one of quiet confidence that the time has arrived to act.â€
Buyers were still being â€œrestrained and selectiveâ€ said Thompson, but were committed to completing transactions, which had lifted activity across all areas.
Still of concern is the low number of properties for sale and this is a significant factor preventing the Auckland housing market returning to a â€œnice balanceâ€.Â At the start of September the number of properties on their books was their lowest for 19 months.
But given the improvement in the level of sales activity, it is anticipated that more sellers will now enter the market.
ref: NZ Herald