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Highest January Figures On Record

Highest January Figures On Record

The Auckland property market did not experience the traditional January slow down, with latest figures from Barfoot & Thompson showing the highest number of sales for the month of January since company records began.

Residential sales were up 12 percent on January 2002, with 1,051 sales made during the month compared to 935 in January last year.

Prices are holding up, with the average price increasing marginally to $358,270 during January. Traditionally average house prices decline from December to January, however, this small increase of $44 suggests the market stabilised.

Barfoot and Thompson Director Peter Thompson describes the market as steady and expects a solid year ahead.

“With the return to work and public holidays over, people are getting back into the routine of the New Year. People are concentrating on marketing their properties and we expect sales volumes to increase further over the coming months.”

“Already the first week of February, has showed continued growth.”

“A strong market means the volume of good quality listings are still difficult to secure, making it a good time for potential vendors to consider listing their properties.”

Mr Thompson says January was also a busy month for us in terms of rental properties with a large influx of students into Auckland looking for rental accommodation and that pressure is likely to continue into February.

The average weekly rental increased from $324 to $330 during January.

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