The newest Real Estate Institute of New Zealand figures show the quantity of houses sold rose 16.9 per-cent in November compared to the similar month a year before whilst the regular house cost rose 2.1 per-cent or $7,500 in the November year to a latest record of $367,500. Residential real estate sales lifted 0 per-cent in November, a difference of 1001 more houses sold than in October.

When it comes to cost Auckland lead the way, surpassing the 2007 peak levels with the median house cost rising to $490,000, up 0.7 per-cent on the earlier year. Many other regions also reported strong rises. While it is encouraging for those selling their houses, sales volumes are still well under their 2007 figures & Real Estate Institute chief executive Helen O'Sullivan says the recovery doesn't yet classify as another boom.

On a regional basis, sales volumes in Auckland were up 26.7 per-cents on the earlier year with 1789 homes selling in the coursework of November. Listings stay tight with a lack of new houses coming onto the market. Auckland has also experienced the speediest rise in the number of properties sold at auction, with 27 per-cents of unconditional sales in November being sold at auction, an all-time high.

In the capital, Wellington property prices fell in November, down 2.4 per-cent on the earlier month & 4.2 per-cent from the earlier November year. The median house cost was $383,250 compared to $400,000 in November 2010. Central Wellington house prices dropped dramatically, from a median cost of $522,000 in November last year to $436,000 this year. The number of properties sold in the Wellington region was 1.9 per-cents down on a year earlier.

In Canterbury, the number of properties sold rose 19.3 per-cent in the year to November, & the average cost was up 9.1 per-cents to $335,000. After a powerful lift in spring, the real estate market in Christchurch appeared to be steadying.