Spring boom for Auckland real estate market

Auckland's property market has shot off in spring, with house sales up more than 65 per cent on the same month last year, says real estate firm Barfoot & Thompson.

Average prices were up slightly, rising to $520,023, a 1.5 per cent jump from August last year.

The firm, which is the largest in the Auckland area, said it sold 830 properties in August, up 6.5 per cent from the previous month.

"Keen interest has returned to the Auckland market," said Peter Thompson, company managing director.

"Buyers feel prices are attractive, they can afford the repayments, and are comfortable about their future job prospects.

"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.

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Posted: 3 Sep 2009

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