House price values and sales boosted by late spring surge

The latest REINZ Monthly Housing Price Index also reported a 1.9% rise in house prices, the biggest increase since September 2009 and coming after two months of falls.

"The indications of a lot more listings noted at the beginning of last month have led to a late flush of spring activity," said REINZ spokesman Bryan Thomson.

"With pent-up levels of people now in the market who need to buy or sell homes, we can expect the increased activity to continue through December and the summer without the usual slowdown over Christmas."

"The November results may mark a turnaround in housing market activity, although more evidence is needed before jumping to any such conclusions," said JP Morgan economist Helen Kevans.