Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Winter listing shortage drives up prices

Winter listing shortage drives up prices

The traditional winter listings shortage has driven Auckland residential house prices up by $17,000 according to Barfoot & Thompson’s July figures.

The real estate company’s figures show the average house price in July was $387,919 up from $370,837 in June.

“While the average house price is up significantly on the previous month, this is not just attributable to a shortage of listings,” says Barfoot & Thompson Director, Peter Thompson.

“The rise in price is also due to an increase in sales over $500,000. 36 percent of our sales last month were for over $500,000, compared to 32 percent in June.”

“The volume of residential sales remains steady, but quality listings continue to be in short supply. Listings have not been this low since May 1996.”

In the rental market, average weekly rental prices have dropped to $326 down from $331 previously.

“The number of houses and units let increased significantly on the previous month, resulting in the lowest average weekly rental this year - July was definitely a tenants’ market.”

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Gita Hits NZ: 'It Was Literally Like A Wall Of Water'

"We were looking at the river at 80 cubic metres at about 4pm thinking it was amazing that we'd dodged the bullet ... an hour and a half later it was 600 cubic metres, and it just kept going up to 900 from there." More>>

ALSO:

America's Cup: Another Day, Another Cup Village Plan

A fourth option modelling what an America's Cup Village in Auckland might look like has arrived today as a planning deadline nears with no agreement in sight.More>>

Closing Or Selling Regionals: Fairfax Starts NZ Endgame

Fairfax Media Group will close or sell 35 percent of its New Zealand print titles as the Australian group pursues a digital strategy for the kiwi unit, now rebranded Stuff. More>>

Fletcher Building: Norris Steps Down As Chair After New $486M Loss Provision

Ralph Norris will step down as chairman of Fletcher Building after the company took a further $486 million provision for project losses at its Building + Interiors unit and said 14 of the unit's 73 projects, worth $2.3 billion, are loss-making or 'on watch'. More>>

ALSO:

WWF: Concerns With Suggestion To “Scrap” Fishing Monitoring

“Our Pacific neighbours, like Fiji and the Solomon Islands, are making this work with far less economic resources than New Zealand. There’s no reason the government can’t get this done by October.” More>>

ALSO:

Stink one!: Stink Bug Invasion Could Cost NZ Billions

An invasion of the brown marmorated stink bug - the pest discovered recently in three Japanese car shipments - would devastate New Zealand's fruit, vegetable and wine industries, destroying more than $4 billion of export value and costing thousands ... More>>