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

 

Auckland December property sales at highest in five years

Auckland December property sales at highest in five years, Barfoot says

By Hannah Lynch

Jan. 11 (BusinessDesk) – The Auckland housing market finished 2011 on a strong note with the highest volume of December sales in five years, while the average selling price rose 1 percent from November.

Sales for December increased more than a third to 714 on the same period last year, while the average house price rose $5,500 from November to $573,071, real estate firm Barfoot & Thompson said in its monthly report.

“Although December was an excellent sales month, overall the Auckland market remains restrained,” said managing director Peter Thompson.

House prices increased modestly, with the difference between the average price achieved for all of 2011 only 2.5 percent higher than 2010, Thompson said. “While buyer interest is high, they remain realistic as to the price they are prepared to pay.”

The number of new listings in December was 846, below the 2011 monthly average of 1,220.

“For the first quarter of this year the Auckland housing market is likely to follow a similar pattern to that experienced last year, with prices increasingly modestly and choice remaining limited,” Thompson said.

(BusinessDesk)

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

$7.5 Billion Surplus: Government Accounts "Show Strong Economy"

“The surplus and low levels of debt show the economy is in good shape. This allows the Government to spend more on infrastructure and make record investments in health and education,” Grant Robertson says. More>>

ALSO:

New OIO Application Trumps Judicial Review: OceanaGold Cleared To Buy Land For Waihi Tailings Expansion

In a surprise turnaround, the government has given OceanaGold a greenlight to buy land to expand its Waihi mine after the application was previously turned down by Land Information Minister Eugenie Sage. More>>

ALSO:

Christchurch Rebuild: Fletcher Sued For $7.5m Over Justice Precinct

Fletcher Building is being sued for $7.5 million by utilities contractor Electrix, one of the subcontractors on the Christchurch Justice and Emergency Services Precinct. More>>

Three New Drugs: PHARMAC Signs Bundle Deal For More Cancer Medicines

420 New Zealanders with lung cancer, breast cancer, multiple sclerosis and respiratory disease will benefit each year from a bundle deal PHARMAC has finalised with a medicine supplier. More>>

ALSO:

"Levels Playing Field": Government Responds To Electricity Price Review

The changes announced today include: • Supporting new and independent retailers by requiring the big power companies to sell into the wholesale market at affordable rates. • Extending discount rates to all customers • A pilot scheme to help customers who have not switched power providers before to shop around for better deals... More>>

ALSO: