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.


© 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>>


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>>


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>>



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>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news