Housing market continues to heat up

The latest residential housing figures from Harcourts show written sales were up strongly across the country last month, with a 31.9 per cent increase on the same period in 2014.

According to Harcourts' New Zealand's national market watch, there were also clear signs of Auckland's heated market continuing to spread to other parts of the country, with a notable 84 per cent increase in written sales recorded in the Central Region.


Vendors in areas such as Tauranga and Hamilton are trying to meet the demand of Auckland buyers looking to invest outside of the country's largest city. Photo: File.

That region also recorded a 103.5 per cent increase in auctions compared to the same period last year, as vendors in areas such as Tauranga and Hamilton try to meet the demand of Auckland buyers looking to invest outside of the country's largest city.

Auction figures were mostly up across the country, with vendors making the most of demand, although the South Island did see a dip in figures compared to this time last year.

Meanwhile, continued ongoing demand in Auckland is constantly pushing house prices up, with the average sale price in the last month at $841,502 – up 23 per cent on the same period in 2014.

House prices overall were up 14 per cent across the country compared to September last year, with Wellington the only region to record a small drop.

Harcourts CEO Hayden Duncan says New Zealand's property market continues to strengthen, with volumes and values both up in every market against the same time last year.

'With low interest rates and continued strong immigration, property demand is increasing and sellers that have realistic price expectations have never had a better time to sell,” says Hayden.

'The traditional spring market rush has started and will give buyers choice, but they shouldn't be encouraged to hold back from entering into a buying decision.”

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