Auckland leading real estate recovery, says Harcourts

"The signs of a recovering real estate market continue to be supported with encouraging results," said Harcourts New Zealand CEO Hayden Duncan.

"Nationally, Harcourts' May figures show higher written and settled sales volumes against last year. This is resulting in fewer properties available for sale with a shortage of new properties entering the market, further reducing the pool of availability for buyers."

Duncan said this reduced choice has resulted in a further fall of ‘days on  the market' in main centres, "indicating that owners thinking of selling should act now while diminished supply, and buyers action, are creating competition."

While Harcourts reported the Northern region, including Auckland, saw the average sales price fall 6.9% in the year to May (from $554,460 to $516,447), sales were up 27%.