Auckland's largest real estate agent, Barfoot & Thompson, said it sold 559 houses in February at an average price of NZ$512,536. The number of houses sold rose 8.9% from January and the average price rose 2% (up 3.5% from February 2008). Barfoots said more than half of total sales were sold for above NZ$500,000. "The Auckland housing market is showing tentative signs that confidence in housing is edging back, with more buyers and sellers entering the market," Barfoots said. Barfoots said it listed 1,470 new homes in February, up 51% from January. but down 28% from February 2008. "On all three key indicators of houses sold, average price and number of new listings, February was positive and encouraging," Managing Director Peter Thompson said. "Buyers and sellers are cautiously re-entering the market, and there is cause to have some optimism that the housing market is settling," Thompson said.
"The combination of lower interest rates, awareness of the low number of residential building permits being granted, and the general growth of the Auckland region are all contributing factors to this modest turn around," he said. "More than half of all the homes sold in February (53.7 percent) sold above $500,000, while 63 homes sold above $750,000 (46 in January) and 30 homes sold above $1million (15)." "A rise in the number of $1million plus houses sold is traditional in February, and that trend has shown through again this year."
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