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11-02-2014

Harcourts picks rising prices

Landlords.co.nz

Harcourts agents have noticed increased interest in the market from property investors, the company’s latest MarketWatch report says.

The real estate agency reported an average sale price of $665,726 for residential property in the Auckland and Northland region in January.

That was second only to December’s record high $675,726 and was up almost a quarter on the same time in 2013.

Listings and auction numbers are down but Harcourts said auctions still accounted for 38% of all listings.

First-home buyers were looking to parts of the North Shore and West Auckland for more affordable options, Harcourts said. “Overall confidence in the northern region market remains extremely high. There is no sign of demand dropping off and prices will continue to rise while stock levels remain low.”

Tags: marketwatch

Source: Landlords.co.nz

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