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

 


Auckland Property Prices Set New Record

Media Release

10 October 2005


Auckland Property Prices Set New Record

Not even pre-election jitters could slow the Auckland property market during September. The latest sales figures from leading Auckland real estate firm Barfoot & Thompson show property prices hit a new high last month, topping $469,000 for the first time.

The average price achieved during September was $469,356, up more than $17,000 on August and more than 13 percent ahead of the same period last year. The company made a total of 1,071 sales during September, which was also up 16 percent from a year ago.

Almost half of all the properties sold by Barfoot & Thompson during September were for $500,000 or more - and 22 percent of properties sold for over $750,000.

Barfoot & Thompson Director Peter Thompson says the record breaking average price indicates there is still plenty of buoyancy in the Auckland property market.

“We continue to see a shortage of listings which is undoubtedly helping to fuel Auckland house prices. There is still plenty of keen buyer interest in the market and not enough stock to satisfy demand. Those that are in the market to buy are showing that they are prepared to pay good prices to secure the properties they want. Strong sales and a record average prices are proof positive of a strong Auckland housing market.”

On the rental front, the September results reflected a steady rental market with the average weekly of $334 down slightly from $338 last month, but slightly ahead of the same time last year.

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

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>>

ALSO:

Half A Billion Accounts: Yahoo Confirms Huge Data Breach

The account information may have included names, email addresses, telephone numbers, dates of birth, hashed passwords (the vast majority with bcrypt) and, in some cases, encrypted or unencrypted security questions and answers. More>>

Rural Branches: Westpac To Close 19 Branches, ANZ Looks At 7

Westpac confirms it will close nineteen branches across the country; ANZ closes its Ngaruawahia branch and is consulting on plans to close six more branches; The bank workers union says many of its members are nervous about their futures and asking ... More>>

Interest Rates: RBNZ's Wheeler Keeps OCR At 2%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2 percent and said more easing will be needed to get inflation back within the target band. More>>

ALSO:

Half Full: Fonterra Raises Forecast Payout As Global Supply Shrinks

Fonterra Cooperative Group, the dairy processor which will announce annual earnings tomorrow, hiked its forecast payout to farmers by 50 cents per kilogram of milk solids as global supply continues to decline, helping prop up dairy prices. More>>

ALSO:

Results:

Meat Trade: Silver Fern Farms Gets Green Light For Shanghai Maling Deal

The government has given the green light for China's Shanghai Maling Aquarius to acquire half of Silver Fern Farms, New Zealand's biggest meat company, with ministers satisfied it will deliver "substantial and identifiable benefit". More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news