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


October produces record average sale price

Media Release

October produces record average sale price

Auckland’s average sale price has broken the $500,000 barrier for the first time according to the latest monthly sales statistics from Barfoot & Thompson.

The company sold 978 properties for an average price of $502,297, pushing the average sale above the half million dollar mark for the first time in the company’s 83 year history.

Director Peter Thompson says, “Spring has seen a huge increase in activity in the property market and that’s being reflected in higher prices.”

“There’s been a noticeable increase in buyer enquiry over the past month and a corresponding increase in the number of potential buyers registering for our up coming auctions.”

“The busy market is being experienced across all price ranges but there is particularly high demand at the top end with a quarter of all our sales being for $750,000 or above, and a record 16.7 percent of sales topping the million dollar mark.”

Barfoot & Thompson also signed up an impressive 1,823 new listings during the month (compared to 1,375 in September) demonstrating that vendors are very confident about taking their properties to the market.

“Vendors are clearly being rewarded with top prices for their properties and the most pressing problem now is continuing to attract more high quality new listings to keep up with buyer interest. Certainly this is a great time for new vendors to consider bringing their properties to the market.”


© Scoop Media

Business Headlines | Sci-Tech Headlines


Voluntary Administration: Renaissance Brewing Up For Sale

Renaissance Brewing, the first local company to raise capital through equity crowdfunding, is up for sale after cash flow woes and product management issues led to the appointment of voluntary administrators. More>>


Approval: Northern Corridor Decision Released

The approval gives the green light to construction of the last link of Auckland’s Western Ring Route, providing an alternative route from South Auckland to the North Shore. More>>


Media Mega Merger: Full Steam Ahead For Appeal

New Zealand's two largest news publishers have confirmed they are committed to pursuing their appeal against the Commerce Commission's rejection of the proposal to merge their operations. More>>

Crown Accounts: $4.1 Billion Surplus

The New Zealand Government has achieved its third fiscal surplus in a row with the Crown accounts for the year ended 30 June 2017 showing an OBEGAL surplus of $4.1 billion, $2.2 billion stronger than last year, Finance Minister Steven Joyce says. More>>


Mycoplasma Bovis: One New Property Tests Positive

The newly identified property... was already under a Restricted Place notice under the Biosecurity Act. More>>

Accounting Scandal: Suspension Of Fuji Xerox From All-Of-Government Contract

General Manager of New Zealand Government Procurement John Ivil says, “FXNZ has been formally suspended from the Print Technology and Associated Services (PTAS) contract and terminated from the Office Supplies contract.” More>>