Homes in Auckland in high demand

Agents across Auckland report bumper sales during last month in the residential property sector with house prices continuing to rise at a steady rate. Several leading estate agents working in the city agree that transactions in the residential real estate market during May were the highest for nine years. Sales were more than 30 per cent higher than May 2011 and more than 50 per cent higher than the previous month. Buyer demand is high in Auckland and this coupled together with a lack of new build properties in recent years and rising population growth has helped to push house prices upwards. One leading firm of Estate agents say the average property price achieved during May reached $582,000 – the highest the company have ever recorded. New listings were up during the month and demand continues to grow across all price ranges – the usual slow down as winter approaches has not yet begun.