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Housing in Auckland - Source: ONE News -
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The average house price in Auckland is the highest it has been in nearly two years, according to real estate agency Barfoot & Thompson.
The average price of houses sold through the agency in November reached a 23-month high of $550,217. This is up 1% on October's average price and 9.9% higher than November last year.
Agency director Peter Thompson says the strengthening market shows that prices have consolidated, with November being the third consecutive month of gains.
"Auckland property has now recovered all the losses experienced over the past two years," he says.
Interestingly, while Thompson believes low interest rates are playing a part in the upswing, he says buyers are not being driven by concerns that they must get in quick or miss out.
"Buyers are committing on the basis of the property meeting their check lists and views about value for money," he says.
Thompson says there is also good choice on the market, with the number of properties on sale totalling 5,600 - the highest available listings since May.
The average weekly rent in November was $397, down $5 a week compared with October but $16 a week higher than in November last year.
