Booming Auckland house sales jump $709 each day

House sales are booming nationally and Auckland leads the way with a $709 a day jump. The city last month had the biggest price rises and the most deals.

Prices in most Auckland areas are now well above the 2007-08 slump, according to Real Estate Institute figures out yesterday, which showed an extremely strong March.

The national median price jumped $10,500 from $350,000 to $360,500, a $338-a-day rise.

Auckland house sales showed price rises higher than elsewhere in New Zealand, from a median $453,500 to $475,000, up $22,000 during its hot, dry summer.

House prices have risen to their highest March level in two decades and the number of sales passed 6000 after dropping at the end of last year.

Reserve Bank figures published in the Herald this week showed mortgage volumes down 30 per cent in the first quarter of this year and mortgage brokers claiming borrowers were finding it hard to get cash from banks for houses.

To read the full NZ Herald Article, click here

Posted: 17 Apr 2010

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