13 Apr 2011

House sales rise in March - REINZ

5:08 pm on 13 April 2011

The Real Estate Institute says a relatively strong Auckland housing market has helped boost overall national houses sales throughout New Zealand in March.

The institute says 5,848 sales were reported throughout the country, up 29.9% on February, although down 1.8% on the figures for March 2010.

The Auckland market led the way and while it was mixed, overall sales for the region last month were 53.2% higher than February.

The institute says sales in earthquake-hit Christchurch dropped dramatically from 595 in March last year, although it said it was remarkable that 193 houses still sold last month.

The institute's director for Canterbury, David Rankin, says 300 house contracts were signed in March, but will not show up in data for a month or two.

Fendalton, Merivale and Rangiora had strong sales, he says.