House prices rise, but sales slow

A spring boost for the housing market was welcomed yesterday by Auckland's largest real estate agency.

Barfoot & Thompson director Peter Thompson said the price jump from $510,978 in August $523,861 showed the housing market was beginning to bounce back.

Sales are still low at 689 last month, well down on March's 927 sales, but Mr Thompson was optimistic.

"The average price we achieved in September was right in line with the average monthly sales price achieved for 2009.

"It points to prices being stable and is a pleasing return after the decline seen in August," he said.

Monthly sales numbers were still only "ticking over" and had not exceeded 700 in a month for four months.

Prices had moved with the return of spring, Mr Thompson said, "but sales remain quiet".

To read the full NZ Herald article, click here

Posted: 6 Oct 2010

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