Auckland prices reach almost two-year high
The average sale price rose 1% to $550,217 last month from October, according to Barfoot & Thompson, the city's biggest real estate firm. Prices are 9.9% higher than November 2008.
"The level of activity and strength of prices in the housing market is a strong signal that in Auckland at least, property has returned to being seen as a sound, medium- to long-term investment option," said managing director Peter Thompson.
While prices are back to where they were two years ago, Thompson believes the difference between the current market and that of 2007 is the existing market is “more rational and measured”.
"Buyers are committing on the basis of the property meeting their check lists and views about value for money. They are not being driven by concerns that they must act or they might miss out.”
Click the button below to subscribe and will have free unlimited access for a limited time to full article and all other articles on the site.
You will also be able to comment on articles on Good Returns.
