Auckland house prices hit Feb high, says Barfoots

Average prices for Auckland properties hit a February high last month, said real estate firm Barfoot and Thompson.

Barfoots, which is the largest of the Auckland real estate agencies, handling around one third of residential sales, said the average price for February was $521,323 - a new high for that month and up 3.2 per cent.

An increase in new listings, pushing choice to its highest level in 11 months, meant the Auckland housing market was 'finely balanced.'

"Taken in isolation, February was a solid month,' said Peter Thompson, company managing director.

"The average house price in February increased by 3.2 per cent on that in January, and while a seasonal uplift was expected as people returned from the summer break, an average February price close to that for the average for the previous year ( 2009 yearly average: $522,297) has never occurred previously.

To read the full NZ Herald article, click here

Posted: 3 Mar 2010

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