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


Auckland house sales climb in December, new listings drop

Auckland house sales climb in December, new listings drop

Jan. 8 (BusinessDesk) – The property market in Auckland continued its recent trend in December, with a jump in home sales and a drop in new listings, Barfoot & Thompson says.

The real estate firm recorded 920 sales last month, the highest for December in eight years, outpacing the 697 new listings, a decline of 17.6 percent from the same month of 2011. That marked the first month in a decade that sales exceeded new listings.

Listings were “exceptionally modest, and the lowest recorded in a month for the past decade,” said Peter Thompson, the firm’s managing director.

The average sale price for December was $624,015, down from November’s record of $627,721. For the whole of 2012, the average price rose by 7.7 percent to $584,715 from 2011.

Barfoot said it had 3,410 properties on its books at the end of December, the lowest since the firm started keeping records and down 10.6 percent from a month earlier.

Of total home sales in the month, 9.5 percent were for more than $1 million and 42.8 percent were for less than $500,000.

“With new listings and the total number of listings being at all-time lows, and with mortgage lending rates forecast to remain steady for the first half of 2013, the outlook for the early part of this year is for prices to hold on to the gains made in the last quarter of 2012,” Barfoot said.


© Scoop Media

Business Headlines | Sci-Tech Headlines


DIY: Kiwi Ingenuity And Masking Tape Saves Chick

Kiwi ingenuity and masking tape has saved a Kiwi chick after its egg was badly damaged endangering the chick's life. The egg was delivered to Kiwi Encounter at Rainbow Springs in Rotorua 14 days ago by a DOC worker with a large hole in its shell and against all odds has just successfully hatched. More>>


Trade: Key To Lead Mission To India; ASEAN FTA Review Announced

Prime Minister John Key will lead a trade delegation to India next week, saying the pursuit of a free trade agreement with the protectionist giant is "the primary reason we're going" but playing down the likelihood of early progress. More>>



MYOB: Digital Signatures Go Live

From today, Inland Revenue will begin accepting “digital signatures”, saving businesses and their accountants a huge amount of administration time and further reducing the need for pen and paper in the workplace. More>>

Oil Searches: Norway's Statoil Quits Reinga Basin

Statoil, the Norwegian state-owned oil company, has given up oil and gas exploration in Northland's Reinga Basin, saying the probably of a find was 'too low'. More>>


Modern Living: Auckland Development Blowouts Reminiscent Of Run Up To GFC

The collapse of property developments in Auckland is "almost groundhog day" to the run-up of the global financial crisis in 2007/2008 as banks refuse to fund projects due to blowouts in construction and labour costs, says John Kensington, the author of KPMG's Financial Institutions Performance Survey. More>>


Health: New Zealand's First ‘No Sugary Drinks’ Logo Unveiled

New Zealand’s first “no sugary drinks logo” has been unveiled at an event in Wellington... It will empower communities around New Zealand to lift their health and wellbeing and send a clear message about the damage caused by too much sugar in our diets. More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news