The Auckland residential housing market made a strong start to 2014 following the Christmas/New Year break with the average house price for January reaching $647,207 (£324,000) and the median price reaching $580,000 (£290,000), according to Barfoot & Thompson, New Zealand’s largest privately owned real estate company.

“While these values have eased back on those achieved during last November and December, this is part of the normal seasonal trading pattern,” said Barfoot & Thompson MD, Peter Thompson.

He added: “Sales were up 4.1% on those for January last year and 4.5% up on December’s. All the indications are that the market is building to being extremely active during the first quarter of the year.

“January’s sales numbers are the highest in a January for 6 years. The average sales price for the month is up 7.7% on that for January last year. At the end of January this year we had 3,371 properties listed, the lowest number in a January in more than 11 years.”