Shock! House Prices Fall !

I am of the opinion that is a “non- story”. Does any sensible person really believe that house prices must rise every month of the year? Statistics must mean that any graph can go up and down in any given period. What has to be looked at is the trend over a longer period- in the case of property at least 6-12 months minimum.

I am often asked “when is the best time to buy property?”

The answer: “last year”

Go figure.

 

Auckland house prices slip from record in April as listings rise
May 03, 2013 |
Average house prices in Auckland fell from a record high last month, ending a three-month advance, as more properties came to market, according to Barfoot & Thomspon, the city’s biggest realtor.

The average sale price fell about 0.5 percent to $643,089, having reached a record $645,928 in March, the company says. The median price dipped 2.4 percent to $566,000.

The number of new listings in April rose 3.8 percent from March to 1532 and was up 21 percent on April 2012.

Barfoot sold 1062 properties in April, the highest for that month in 11 years but still down by about a quarter from March. Some 40 percent of all the sales in April were under $500,000. There were 103 properties sold for in excess of a million dollars.

At the end of April Barfoot & Thompson had 3467 properties on its books, its second lowest number in more than a decade and down 6.8 percent on the number at the end of March, it says.

Real Estate Institute figures this month showed the number of New Zealand house sales rose to a six-year high in April and prices set a record as Auckland.

The national median price rose an annual 8.1 percent to $400,000, the first time it has broken the $400,000 mark. About 90 percent of the increase in the median price has

come from Auckland and Canterbury over the past year.

 

NBR

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