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


Auckland Housing Market Stable In November

Auckland Housing Market Stable In November

The Auckland property market was characterised by a good volume of sales and stable prices in November according to leading real estate firm Barfoot & Thompson.

The company sold 881 properties for the month (up from 675 in September and 796 in October). The average sale price was virtually unchanged at $546,364 (compared to $546,679 in October).

Director Peter Thompson says the company ended the month with just over 6,000 property listings on its books, which is not only the highest monthly stock level to date this year but the highest since January 2002.

“We signed up more than 1,900 new listings during November, which is in line with expectations for this time of the year, although slightly ahead of the same month last year. With our stock levels at a five year high, vendors need to be aware that buyers have plenty to choose from in the current market and properties need to be priced realistically to sell within a reasonable timeframe.”

“Overall the picture is of a very settled market delivering stable prices and I believe that will continue well into 2008.”

Other key property sales figures for the month include:

  • 56.6% of sales were for $500,000 or more

  • 70 sales topped $1 million

  • The busiest week of the month was 12-18 November when 283 sales were made

In property management, where Barfoot & Thompson has more then 7,000 houses and units under management, average weekly rents dropped back from a 2007 high of $388 in October to $377 in November. 628 fresh lettings were signed up in November.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Watch This Space: Mahia Rocket Lab Launch Site Officially Opened

Economic Development Minster Steven Joyce today opened New Zealand’s first orbital launch site, Rocket Lab Launch Complex 1, on the Mahia Peninsula on the North Island’s east coast. More>>


Marketing Rocks!
Ig Nobel Award Winners Assess The Personality Of Rocks

A Massey University marketing lecturer has received the 2016 Ig Nobel Prize for economics for a research project that asked university students to describe the “brand personalities” of three rocks. More>>


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, Including Xtra: 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>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news