Lift in market activity continuing

The latest Harcourts MarketWatch reports an average of 30.8% more written sales made in June than in the same month last year, continuing the trend the company has been reporting for some months.

"The largest increases were in Harcourts' Central region, where we recorded a 58% increase in written sales, followed by the Northern region (51% up), Christchurch region (34% up) and Wellington region (29% up)," Harcourts chief executive Bryan Thomson says.

The increase in sales has also encouraged a rise in auctions, according to the Harcourts report.

"The increase in sales, coupled with lower-than-expected numbers of new listings, is seeing buyers experiencing considerable competition when looking to secure a new property. And in an effort to capitalise on [the increasing number of active purchasers in the market], increasing numbers of sellers are choosing auction campaigns, which, according to feedback from Harcourts offices around the country, is proving to be the most successful method of sale," Thomson says.