Confidence in housing market

Published: 2:55PM Sunday October 18, 2009 Source: Newstalk ZB/ONE News

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There are predictions the buoyancy in the housing market will continue.

Harcourts wrote 44% more sales across the country in September, compared with the same month last year.

The biggest boom was in the northern region, which encompasses Auckland and Northland, where there was a 90% jump in sales.

CEO Bryan Thomson says the closing weeks of last month were actually more subdued than hoped, likely in part due to the shocking weather that affected much of the country.

He is predicting good levels of sales will continue through to Christmas.

Thomson says there has been an increase in new listings and there is strong demand from buyers.

"Auctions and tenders continuing to be heavily utilised by sellers keen to maximise the potential result, while according to anecdotal evidence from around the group there is ongoing strong demand from a wide range of buyers which bodes well for the next few months," Thomson says.

However, Thomson says Christchurch is one marketplace where listings last month were well behind September 2008 levels.

"There could be a catch-up in October, but if not, the buyers in that marketplace will face an even bigger struggle for property."

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