New Zealand Property News

Steady progress for Auckland properties

Steady progress for Auckland properties There is strong demand for homes across Auckland and while supply remains limited house prices have remained steady for the second month in a row during May. Towards the end of 2012 house prices across New Zealand’s largest property market began to rise at quite a strong rate but for the last two months the rate of increase has calmed somewhat despite strong buyer demand.

According to one main agent the average sale price last month reached around $644,730 a rise of almost $2,000 on the previous month but down by $1,500 on the all-time average record price of March. The average price reached during last month is more than 10.5 per cent higher than twelve months ago. Supply of properties is unable to equal demand and some home owners are testing the market with unrealistic price tags – these properties are not moving so fast as well priced homes despite the huge number of people looking to purchase their next home.