Harcourts has reported a lift in house sales and average prices in most parts of the country during September, as spring weather encouraged buyers and vendors into the market.
Auckland and Christchurch recorded the biggest lift in sales and new listings were also up in most parts of the country compared to August.
Harcourts chief executive Hayden Duncan said the Reserve Bank's high LVR restrictions had done little to dampen demand for housing in Auckland and Christchurch and prices in those centres were continuing to increase.
"It is simple demand and supply," Duncan said.
"In Christchurch and Auckland demand is outstripping supply and prices will continue to rise until that is no longer the case.
"As the cities' populations show no sign of slowing down, the only answer is rapid and quality construction of new homes."
See the table below for Harcourts full sales results for September and comparisons with August and September last year.
| September 2014 | August 2014 | September 2013 | |
| Auckland & Northland: | |||
| Number of sales | 576 | 471 | 558 |
| Average price | $683,101 | $657,859 | $617,444 |
| New listings | 671 | 651 | 711 |
| Central North Island: | |||
| Number of sales | 299 | 324 | 302 |
| Average price | $337,639 | $327,904 | $314,257 |
| New listings | 439 | 423 | 418 |
| Wellington: | |||
| Number of sales | 262 | 233 | 277 |
| Average price | $366,153 | $387,718 | $358,485 |
| New listings | 396 | 336 | 376 |
| Christchurch: | |||
| Number of sales | 404 | 330 | 391 |
| Average price | $496,161 | $488,734 | $426,373 |
| New listings | 492 | 434 | 465 |
| Rest of South Island: | |||
| Number of sales | 194 | 168 | 217 |
| Average price | $298,702 | $298,746 | $303,683 |
| New listings | 286 | 231 | 377 |
| Total NZ: | |||
| Number of sales | 1,735 | 1,526 | 1,745 |
| New listings | 2,284 | 2,075 | 2,347 |
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