Auckland prices up £23,000

Country: New Zealand

18 May 2009

Strong demand for property in Auckland region has seen local prices buck the national downward trend, by recording annual capital growth of up to £23,000, according to a new report released by New Zealand's largest estate agency, Harcourts.

The firm noted the price rise in the northern region area, where Auckland is the biggest market. The company also reports that prices in other regions had dropped by between three and 24% during the same period.

The average price of a northern region home sold for an average of £207,000 last month, up from $476,000 £184,000 a year earlier. The number of written sales jumped from 252 to 433 and auctions and tenders rose from 95 to 106.

Nationally, Harcourts data shows that sales were up 44% between last April and last month and the Auckland and Christchurch regions showed the best signs of activity.

The Harcourts figures come two days after the Real Estate Institute noted that the average price of a property in New Zealand had appreciated by almost £2,000 month-month in April.

Average residential prices in Auckland fell 9% year-on-year in April, against a 10.1% drop in March, while Wellington fell 8.5%, during the same period.

See Also: Auckland, New Zealand

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