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June House Sales Follow Normal Winter Trend

12 July 2005

June House Sales Follow Normal Winter Trend

Barfoot & Thompson’s sales figures for June continue to reflect the leveling of the property market we have been witnessing in recently, combined with the normal trend towards a quieter market during the mid-winter months.

The total number of sales during June (962) was down 3.2 percent from this time last year. Overall the June quarter was down about two percent on the March quarter.

Despite the lower volume of sales, the average price for June bounced back to $443,286 from the May figure of $427,299. The June result is in line with the June quarter average of $443,730.

Barfoot & Thompson Director Peter Thompson says that while the number of sales was lower for the month, prices continue to hold. “This matches the anecdotal feedback we are hearing from our salespeople in the field. It’s interesting to note that the June average price was three percent higher than this time last year. We also continue to experience strength in the premium end of the market – 14 percent of our sales this month were for a million dollars or more.”

The rental market was also reflective of the traditional winter pattern with little activity to note. The number of lettings (637) was up slightly on the same time last year and the average weekly rental remained static at $336.

ENDS

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