Auckland house prices stabilising at boom-time levels
The average sale price rose 0.5% last month from November to $552,933, according to Barfoot & Thompson, the city's biggest real estate firm.
"Regardless of how you analyse the sales data, sellers are now achieving almost a similar price for property as they would have at the height of the 2007 property boom," said managing director Peter Thompson in a statement.
"The prices of houses did not fall sharply from their 2007 highs because owners did not accept the lower prices on offer."
The resurgent residential property market, which helped underpin the country's economic recovery, convinced central bank Governor Alan Bollard last month to bring forward the timing of increases to the official cash rate.
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