Latest property report - December

''Residential data from Harcourts for the month of November shows written sales were up 25% compared to last year. Harcourts is not expecting any significant drop in price with demand continuing to exceed supply, particularly in the Auckland market.

Auctions accounted for more than 40% of all listings with buyers.

The average house price jumped 6% from last month to $709,823. Prices are up 8% from last year showing the LVR restrictions are not influencing the rising house prices in the Auckland and Northland region.

In the lead up to Christmas, total listings look strong but we will see the traditional decline in volume as the holiday period approaches.''

Shannon CorbettComment