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

 

Auckland Property Market Takes a Holiday

Auckland Property Market Takes a Holiday

The traditional summer slow down in property sales is reflected in Barfoot & Thompson’s January sales results.

Barfoot & Thompson sold 878 dwellings in January for an average price of $454,345. This is lower than the December average of $466,529, however, that figure was skewed by two large sales worth more than $10 million each. In January there was one land sale valued at $11 million.

Despite the drop off in average sale price during January, the figure is still 19 percent higher than the same period last year.

Director Peter Thompson says, “January is always a quiet month for sales because many people are still away on holiday. However, it’s interesting to note that week by week analysis shows that sales activity has increased significantly in the past three weeks with the volume of sales well ahead of the corresponding weeks last year.”

Mr Thompson says, “The overall trend continues to indicate that the Auckland property market remains relatively steady.”

Almost 40 percent of Auckland properties sold by Barfoot & Thompson during January were for more than $500,000, almost 20 percent sold for more than $750,000 and 11.4 percent of sales were for more than a million dollars.

Mr Thompson says the rental market was very busy in January. “This is traditionally the busiest month of the year for our letting agents. 726 houses and units were let and the average weekly rental reached $346 which is the highest ever according to Barfoot & Thompson’s records.”

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

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:

Greenpeace: Genesis’ Plan To Keep Coal Burning Until 2030 Stuns

Genesis Energy had previously promised to turn off its coal-fired units this year, however after a series of closed-door meetings with power companies including Meridian Energy, the deadline was extended. More>>

ALSO:

PM's Science Prizes: The Science That Saved Kiwifruit

Plant & Food Research is proud to be the recipient of this year’s Prime Minister’s Science Prize for its rapid response to the vine-killing kiwifruit disease Psa. More>>

ALSO:

NZ Government: Fund Encourages Lower-Emissions Technology

Businesses are being encouraged to adopt innovative technology that cuts greenhouse gas emissions in a funding round announced by Energy and Resources Minister Megan Woods today. More>>