Auckland property market back from the dead?

It may not be the dawn itself, but latest house sales numbers from Auckland's largest real estate company might just show the first glimmer of light in a gloomy property market.

The number of homes sold by the company rose nearly 9 per cent from the month before to 559. Barfoot says it is the first time in four years it has sold more homes in February than the proceeding January.

Average prices rose by 3.5 per cent from February last year, at $512,536. These prices were also up slightly - 2 per cent on January.

Concern about the number of listings in the real estate market may be starting to ease, with 1470 new listings for Barfoot in February. This is up 50 per cent from January, well down when compared to the same month last year.

To read the full NZ Herald article click here

Posted: 5 Mar 2009

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