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12 March 2009 | More houses sell - but take longer to do so

Radio New Zealand reports that more houses sold in February - but the number of days they are on the market is lengthening.

The latest figures from the Real Estate Institute show that 5,228 houses were sold in February, compared to a record low of 3,706 in January.

Properties sold in February took an average 62 days to sell, compared with 59 days in January.

The median house price improved, up $5,000 in the month to $330,000, compared with $337,500 in February a year ago.

Institute president Mike Elford said that while the climb in sales was welcome, the industry has to be cautious in its optimism in what are difficult times.

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