Promising housing statistics

There are some promising statistics on the housing market.

Figures from Ray White Real Estate show October was the strongest month since the global financial crisis, with as many houses listed, as being sold.

Chief executive Carey Smith says while it may appear as though there's a shortage of stock, it's just the quicker turnover resulting in less properties on the market.

She says sales were up 29 percent in October, when compared to the same time last year.

Carey Smith says Auckland has seen double the sales this year, compared with 2011.

Auckland’s mayor says the city's buoyant housing market is a symptom of the region's success.

Figures show Auckland house prices have soared 124 percent since 2000, with GDP growing 47 percent over the same period.

Len Brown says it's testament to how liveable and attractive the city is, to both Kiwis and migrants.

"The natural beauty of the place, its advantages, clearly its strong economy, have proved major attractors - so that's the reason why the success of the city certainly an issue that drives property and land values."

He says the council must now get housing plans right, to deal with expected future population growth.


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