5 Oct 2010

Auckland property prices up, sales slow

1:15 pm on 5 October 2010

Auckland house prices have risen, but sales remain sluggish, according to figures from the city's largest realtor, Barfoot and Thompson.

The Average sales price rose 2.5% in September to just under $523,900.

Prices are now 1.7% higher than a year ago, however, the traditional spring lift has failed to invigorate sales numbers.

Barfoot and Thompson managing director Peter Thompson says while sales increased slightly in September, fewer than 700 were made, which is well down on last year.

But Mr Thompson says there are signs the market is stirring, with new listings increasing by 11% in the month.

Meanwhile, the average weekly rent in Auckland has increased by $23 in the last year to $407 dollars, the company's figures show.