House prices and numbers sold soar

Figures from REINZ reveal the unrelenting pace of property sales continued, with 7694 homes sold last month, up from 6964 in February 2020.

Typically, Auckland is leading the way and house sales accelerated by 34.6% year-on-year, from 2061 to 2775. This volume is the highest for the month of February in 14 years.

Across the country, excluding Auckland, the number of properties sold increased by 6.1% to 5189 last month when compared to 4890 sold at the same time last year. Last month nine out of 16 regions saw annual increases in sales volumes.

Regions with the biggest increases were West Coast, +58.0% (from 50 to 79 – 29 more houses) – the highest it’s been since March 2004 and the highest for February ever; Taranaki, +31.4% (from 153 to 201 – 48 more houses) – the highest for February in four years; and Northland, +22.5% (from 191 to 234 – 43 more houses) – the highest for February in four years.