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


Auckland House Prices Continue To Rise

Auckland House Prices Continue To Rise

A strong lift in the average Auckland house price for the second month in a row suggests there is still strong buyer demand.

The latest monthly sales figures from Barfoot & Thompson show the average price of an Auckland residential property increased a further six percent during April to a record high of $436,443, nine percent ahead of the same time last year.

The total volume of sales during April was down from 1,411 the previous month to 1,001. The drop follows the pattern of similar seasonal drops in previous years.

Director Peter Thompson says, “It’s interesting to note that sales worth $500,000 or more accounted for 40 percent of all sales recorded by Barfoot and Thompson during the month. “It’s possible that the Reserve Bank’s March decision to leave the cash rate unchanged contributed to the continued buoyancy and it will be interesting to see whether the recent increase in interest rates will have any affect on next month’s results.”

Barfoot & Thompson is the market leader in Auckland real estate, selling more than one in every three residential properties, meaning its sales figures are one of the best indicators of market conditions.

In the property management area, average weekly rent dropped from $341 in March to $330 during April. 564 properties were let during the month, compared to 686 in March and 617 this time last year.

© Scoop Media

Business Headlines | Sci-Tech Headlines


Onetai Station: Overseas Investment Office Puts Ceol & Muir On Notice

The Overseas Investment Office (OIO) has issued a formal warning to Ceol & Muir and its owners, Argentinian brothers Rafael and Federico Grozovsky, for failing to provide complete and accurate information when they applied to buy Onetai Station in 2013. More>>


Tomorrow, The UN: Feds President Takes Reins At World Farming Body

Federated Farmers president Dr William Rolleston has been appointed acting president of the World Farmers’ Organisation (WFO) at a meeting in Geneva overnight. More>>


I Sing The Highway Electric: Charge Net NZ To Connect New Zealand

BMW is turning Middle Earth electric after today announcing a substantial contribution to the charging network Charge Net NZ. This landmark partnership will enable Kiwis to drive their electric vehicles (EVs) right across New Zealand through the installation of a fast charging highway stretching from Kaitaia to Invercargill. More>>


Watch This Space: Mahia Rocket Lab Launch Site Officially Opened

Economic Development Minster Steven Joyce today opened New Zealand’s first orbital launch site, Rocket Lab Launch Complex 1, on the Mahia Peninsula on the North Island’s east coast. More>>


Marketing Rocks!
Ig Nobel Award Winners Assess The Personality Of Rocks

A Massey University marketing lecturer has received the 2016 Ig Nobel Prize for economics for a research project that asked university students to describe the “brand personalities” of three rocks. More>>


Nurofen Promotion: Reckitt Benckiser To Plead Guilty To Misleading Ads

Reckitt Benckiser (New Zealand) intends to plead guilty to charges of misleading consumers over the way it promoted a range of Nurofen products, the Commerce Commission says. More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news