Small rise in average house price

The average price of homes sold in the Manukau Courier's circulation area in February was $326,147, an increase of 1 percent on the average price over the past 12 months.

"House prices across the Auckland region set a new record for February, and homes in this area contributed to that by outpacing the 12-month average by $4000," says Barfoot & Thompson managing director Peter Thompson.

"The number of sales has increased with activity in February up 54 percent compared to the same period last year."

New listings had hit a 23-month high and the number of homes for sale across the region is the highest it’s been for 12 months, he says.

"The market is balanced and competitive and sellers need to ensure their price is right if they are looking to sell their home."

And while the average price for the 12 months ending February 2010 was still some 5 percent below that for the corresponding 12 months last year, sales activity was up 39 percent, he says.

"Average house prices in this area are gradually improving."

Areas of greatest activity in the Manukau Courier’s circulation area in February were Papatoetoe, Manukau Central and Manurewa.

- © Fairfax NZ News