Confidence remains in Auckland's residential property market with sale numbers up 14.5 per cent month-on-month and a new high average price of $822,148 reached in May.
Releasing Barfoot & Thompson's latest figures, managing director Peter Thompson said May's average price was 2.2 per cent higher than in April, and since February the average price had increased by 10 percent.
"The median price in May at $750,000 declined by $3500, or 0.5 per cent, over that for April but since February has increased by 9.2 per cent.
"In May sales activity was extremely strong with sales numbers up over those for April by 14.5 per cent.
"Buyers are mindful that prices are at an all-time high, but the combination of a sound economy, low mortgage rates and a housing shortage gives them confidence prices are not on the verge of retreating," he said.
Budget initiatives announced last month had yet to have any impact on market activity, and if they did it would not been seen until this month's figures were complete, Thompson said.
May also marked the third month in a row where the company sold more than 1000 homes, with 1225 sales reached, he said.
"It was something we never achieved in 2014.
"We had a major listing drive in April and early May, and through this achieved 1740 new listings in May, our highest number in a May for 8 years.
"As a consequence of high sales in May by month end we had only 3060 properties on our books.
"There have been only two months over the past 16 months when we have ended the month with a lower number of properties."
Sales of properties over $1 million attracted strong buyer interest, and 362 were sold by the agency last month, the second highest number on record behind March's 420.
They also topped property sales under $500,000 for a third consecutive month - with only a mere 163 recorded.
Data from Realestate.co.nz released yesterday showed more Aucklanders were interested in buying properties outside of the city - with many potential buyers keen on the Hawke's Bay where they could get "more bang for your buck".
The data showed Aucklanders were more interested in homes outside their region compared with the same time last year. Last month more than 12,600 searched for homes in the Hawke's Bay, up by 152 per cent from the same time last year. The figure accounted for 36 per cent of all searches or views in the regions.
Other regions that saw a jump in interest from Aucklanders included Manawatu and Wanganui, up 123 per cent; Waikato, up 114 per cent; Northland, up 86 per cent; and the Bay of Plenty, up 84 per cent.
See Barfoot & Thompson's sales figures for May here: