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Residential property sales up in Auckland and Northland - Harcourts

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Fuseworks Media
Fuseworks Media

The number of written residential property sales in Auckland and Northland last was up 6.5% on April 2015, according to provisional results by Harcourts, New Zealand largest real estate group.

The figures also show the average house price in the region in April was $865,055, up 9% on the same period last year, although down slightly on last month’s average of $940,246.

Lack of supply continues to be a main feature of the market in the region, with new listings down 22.9% on April 2015, and overall stock down 3.1% year on year.

Harcourts CEO Chris Kennedy says low mortgage rates and high demand are continuing to fuel the market in the northern region.

"This time last year we were coming off the two biggest months in our 128-year history, at the start of what was an extraordinary year. The market is starting to feel a little more settled, though still extremely active.

"Supply is still tight when compared to demand, meaning it is an excellent time to list to catch buyers before they start to hibernate for winter."

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