Median House Prices Increases – Listings Remain Low

Barfoot and Thompson’s May results

Time period             Number of sales             Total value of sales
May 2014                1109 properties                $779,589,578
May 2013                1284 properties                $827,843,465
12 months to May 2014 12,662 properties        $8,521,834,169
12 months to May 2013 12,590 properties        $7,772,274,281

* Includes Auckland residential sales that have gone unconditional. Excludes Northland and commercial sales.


The Auckland residential property market continued to slow down throughout May.

“The average sales price during May was $702,966, down less than one percent or $6,000 on April’s figure”, said Peter Thompson, Managing Director of Barfoot & Thompson.

“House prices have remained static throughout May, but the market itself has been very active in comparison to April sales.
We sold 1,109 properties throughout the month, which is a 37 percent increase on the previous month.
However, sales were down 14 percent when compared to the same month last year.

“New listings at 1,318 were the lowest in three months, and down 19 percent on those in April. At the end of May we had 3,498 properties on our books, the second lowest number in May for more than 10 years.

The median sales price for May was $645,000, an increase of four percent above that for April.

Link:

http://www.barfoot.co.nz/Market-reports/2014/May/Market-update.aspx

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