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

 

Housing Market Continues To Produce Solid Results

7 December 2005

Auckland Housing Market Continues To Produce Solid Results

The Auckland property market is continuing its steady run with Barfoot & Thompson reporting that November sales set a new record average price for the third month in a row.

The average sale price for November was $476,916, up from $474,271 in October. This was achieved on the back of good sales volumes. The firm sold 1,046 residential properties during November, which is two percent ahead of the same month last year.

There was strong activity in the upper end of the market with 16 percent of sales for sale prices of $1 million or more, including seven sales in the $2 million to $3 million range.

Barfoot & Thompson Director Peter Thompson says, "The steady rise in Auckland property prices over the past couple of years means we are fast approaching a point where half of all sales the company makes will be for $500,000 or more. In November 48 percent of our sales were for half a million or above and quarter was for more than $750,000."

Mr Thompson says the traditional Spring flush of new properties onto the market has helped ease the listings shortage that has characterised recent months and contributed to rising prices, but the November sales figures demonstrate there is still plenty of activity in the marketplace.

Barfoot & Thompson is responding to the continuing client demand by ensuring that all branches will remain open to assist buyers and vendors over the Christmas period, closing only for the statutory holidays. Enquiry levels are expected to be particularly high at branches close to key holiday spots.

ENDS

© 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>>