New Zealand house prices continue to rise, edging up 1.9% between August and September, according to latest figures from the Real Estate Institute.
In a further sign the market is on the road to recovery, sales in September jumped 30% compared with the same month the previous year, with 6464 houses sold.
In the past three months, house prices have risen 2.5%, with the average house now costing $350,000.
Overall, prices are up 5.3% on levels a year ago, with prices now 4.4% below their November 2007 peak.
Properties are also selling more quickly, taking an average of 33 days in September, down from 34 in August and 52 days in September last year.
REINZ president Peter McDonald says the market is now back where it was in 2007 in terms of valuations and is well on its way to recovery in terms of sales numbers.
