Local Govt | National News Video | Parliament Headlines | Politics Headlines | Search

 


Average Auckland Property Price Static, Median Price Falls

Average Auckland Property Price Static, Median Price Falls

Auckland residential property prices have lost their upward momentum.

“The average sales price has remained static for two months now,” said Peter Thompson, Managing Director of Barfoot & Thompson.

“In May, the average price of $874,623 increased by just over $1000 over that for April, while April’s average price increased by less than $7000 over that for March,”

“The average price in May compared to that for the previous 3 months is up only 2.4 percent, and the year-on-year increase for May was up only 6.4 percent.

“This is well down on the 12 percent increase we saw in the 2015 calendar year.

“We have now had 5 months of trading since the all-time high average price of $876,075 was set.

“In May, the median price came off its all-time high of $820,000, falling to $809,500, a drop of more than $10,000 or 1.3 percent.

“May’s median price is up 3.1 percent on the average for the previous 3 months and up 7.9 percent on the year-on-year comparison.

“The stabilisation of prices is not a result of lack of buyers.

“Sales numbers at 1306 rebounded off last month’s low level and were up more than a third on those for April, and up 31.4 percent on the average for the previous 3 months.

“Sales numbers benefitted from a strong level of new listings, which reached 1905. This was an increase of 27.3 percent on those for the previous month.

“At month end we had 3013 properties on our books. While this is higher than the previous month’s 2846, listings remain at historically low levels, and there has never been a better time to sell.

“More than a third of all the properties sold in May (464) sold for in excess of $1 million, with 14.2 percent (185) selling for less than $500,000.

“In the last two months, the number of sales has not influenced prices. In May turnover was high and in April turnover was low, yet for both months prices remained relatively static or fell. ”

ENDS

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On The Mt Albert Aftermath

Personality politics – Jacinda is great! Jacinda is not so great! – have dominated the coverage of the Labour Party’s fortunes this week...

Still, this is a relatively new and welcome problem for the centre-left. Labour has seemed so bereft of crossover talent for so long that it seems almost embarrassed by this latest development. More>>

 

Conservation: Central Govt Takes Over 1080 Regulation

“This new approach standardises the rules for using such poisons rather than the current system of different rules in different regions. This change will reduce costs and delays for operators, ensure consistent conditions throughout the country, reduce mistakes from misunderstanding rule differences and allow best practice approaches to be used." More>>

ALSO:

Election Entertainments: ACT Has Prison Plan, Greens Have Water Bill

Green Party launches Member’s Bill to protect our freshwater The Green Party has today launched a member’s bill that will keep water from underground sources, called aquifers, safe from pollution and contamination. More>>

ALSO:

2040 Target And Lower Standards: “Swimmable” Rivers Five Times More Likely To Make You Sick

Forest & Bird has condemned the government’s new water quality standards, warning New Zealanders that they lock in current levels of water pollution and allow for a 5-fold increase in the chance of getting sick from swimming in a river. More>>

ALSO:

Immigration: Clampdown On Rogue Employers Good First Step

The Human Trafficking Research Coalition is pleased at the new clampdown on rouge employers who exploit migrants announced by Minister Woodhouse this morning, and believes this is a step in the right direction. More>>

ALSO:

Mayor: 750 New Social And Affordable Homes For Wellington (Over A Decade)

The next stage of Wellington’s Housing Upgrade Programme will see at least 750 new units of social and affordable housing built over the next decade, Mayor Justin Lester has announced. More>>

ALSO:

22/2: Christchurch Quake Memorial Unveiled

A city, a region, a nation and an international community impacted by the Canterbury Earthquakes will come together to mark the sixth anniversary of the deadly quake and dedicate Oi Manawa Canterbury Earthquake National Memorial. More>>

ALSO:


November Quakes:

Gordon Campbell: On The Mana-Maori Party Deal

If the self-interest involved wasn’t so blatant, the electorate deal between the Maori Party and Hone Harawira would be kind of poignant. It’s a bit like seeing the remaining members of Guns’n’Roses or the Eagles back on the road touring the nostalgia circuit… playing all the old hits of Maori unity and kaupapa Maori politics. More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
Regional
Search Scoop  
 
 
Powered by Vodafone
NZ independent news