Spring is in the air, the market is showing signs of lifting in sales and prices.

The national median house price increased by $9,000 from $361,000 in July to $370,000 in August, an increase of 2.5%.  Auckland’s median house price moved up 1.1 per cent, from the $500,000 level it has stayed steady on for three months, to reach a new record median price of $505,500 for September.

Auckland recorded increases in sales volume compared to August last year, by 25.6% and the highest life in prices with an increase of 11.6%.

Fixed term interest rates are at historically low levels and floating rates aren’t expected to rise until the middle of 2013, however many clients are taking the opportunity to lock in a low rate now.  We are also seeing lenders coming out with “special” rates and packages for Spring.  So it’s a good time to look at your lending and investigate options available.

Ref: REINZ Statistics, NZ Herald