Average house price up 35pc

The average price of homes sold in the Papakura Courier’s circulation area in February was $476,182, an increase of 35 percent on the average selling 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," says Barfoot & Thompson managing director Peter Thompson.

"Compared to the average price in this area in February last year, prices were up by 7 percent.

"The number of sales was on a par with that achieved in February last year."

Mr Thompson put the increase in average prices down to owner-occupiers either trading up or people moving into the area from other parts of Auckland or from other centres.

"At the same time new listings have hit a 23-month high and the number of homes for sale is the highest it’s been for 12 months.

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

Mr Thompson said that the increase in the average price for February had increased the average selling price for the past 12 months to $353,801.

"Average house prices in this area are continuing to recover.

"What has improved significantly is the number of homes being sold and, in the past 12 months, sales have increased by 56 percent on the number for the corresponding 12 months last year."

The area of greatest activity in the Papakura Courier’s area in February was Papakura.

- © Fairfax NZ News