(RTTNews) - Friday, a report from Barfoot and Thompson said the housing market in Auckland continued to perform well in June.

“The Auckland housing market has made a remarkable recovery from the challenges experienced as a result of the past 18 months of economic downturn, Mr Peter Thompson, Managing Director of Barfoot & Thompson said.

During the month, 861 properties were sold at an average price of NZ$521,791. Prices achieved dropped 2.3% month-on-month in June and was down 1% from last year, an expected decline, as prices tend to edge lower when winter months approach, Thompson said.

“No-one was forecasting the speed, strength and solidity of the recovery in house sales activity, or the prices that are being achieved”, Thomson noted.

“The strength of the Auckland housing market can be added to the list of ‘green shoots’ indicating that the economy in general and people’s confidence is starting to stabilize”, he added.

Meanwhile, the report said demand for rental properties remained strong during June, with the firm letting out 735 properties, the highest number ever in June, the report said.

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Posted in Categories: Economy, New Zealand, Releases.

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