Sellers Hold Back As Prices Rise $918 Per Day


Auckland house prices keep soaring – up $918 daily in April


Barfoot and Thompson says it’s the first time the $800,000 average sales price has been broken in a month.
Average sales prices for Auckland residential property sold by the city’s biggest agency rose by $918/day last month compared to March.
Barfoot & Thompson has just released sales data showing that the residential properties it sold had an average sale price of $776,729 in March but that rocketed up to $804,282 last month.
The average was therefore up $27,553 in one month alone or $918/day.
But volumes were down sharply from 1597 sales in March to 1070 last month
Wendy Alexander, Barfoot chief executive, said this was the first time the $800,000 barrier was broken in Auckland.

“While trading activity in April was significantly down compared to March’s extraordinary sales, Auckland residential property prices during the month rose to new heights,” she said.

“The average price increased to $804,282, which was an increase of 3.5 per cent on that for March, while the median price at $753,500 was an increase of 6 per cent. Since the start of the year, the average price has increased by 6.2 per cent and the median price by 7.6 per cent.

Link:
http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=11443490

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