4 Aug 2010

Auckland house prices rise

11:24 am on 4 August 2010

House prices in Auckland rose in July, while sales fell slightly.

Latest figures from Barfoot & Thompson, the largest real estate company in the city, show there were only 21 fewer sales compared to June, but the number was down 17% compared to July last year

Meanwhile, the average sale price rose by more than 2% between June- July to $534,389, which is 5.5% higher than a year ago.

New listings increased by 6% to 1267.

B&T managing director Peter Thompson says it was a slow month, with prices holding their ground so far this year.

Meanwhile, the average weekly rentals reached an all time high, rising by $5 to $408.

Average rents have increased by $20 over the last year.

Barfoot & Thompson says landlords are facing higher costs, which is pushing up rents.