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

 


Auckland Housing Market Starts Year on Strong Note


Media release
5 February 2013

Auckland Housing Market Starts Year on Strong Note

The Auckland housing market has experienced its most active January in five years with significant levels of new listings and sales, and with the average price topping $600,000.

“Normally, January is a quiet month with so many people away from the City enjoying their summer break, but this has not been the case this year,” said Peter Thompson, Managing Director of Barfoot & Thompson.

“In January we listed 1440 properties, our highest number in a January for five years, and 39.7 percent higher than in the same month last year.

“January is always one of our lowest months for new listings, but interest in selling rolled over into January as a result of the excellent prices being achieved pre-Christmas, and our agents have been active since the first business day of the year.

“During the month we sold 820 properties, a number we have not achieved in a January for six years, and sales this January compared to last year were up 20.1 percent.

“As always occurs at the start of a new year, prices edged lower than those pre-Christmas, but January’s average price of $600,754, is the first time we have achieved an average price above $600,000 in a January.
“Compared to last January, the average price is up 13.4 percent.

“The Auckland housing market is showing all the signs that it has picked up from where it left off in December, and that sales numbers and values will hold up through the remainder of the warm months to come.”

Mr Thompson said the high number of new listings in January had slightly eased the lack of choice available in December, and at the end of January it had 3763 properties on its books.

“While this is 10.4 percent higher than in December, it is also 21 percent lower than in January last year, so the current situation of greater choice may not last long.”

Interest in high end properties remains, and 68 homes sold for $1 million or more in January.

Of the total number of properties sold 383, or 47 percent, were for under $500,000, and of that number 130, or 15.9 percent of all homes, sold for under $300,000.

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Statistics: Dairy And Travel Still Our Largest Export Earners

New Zealand earned $2.3 billion more from exports than we spent on imports during the year ended June 2015... total exports of goods and services were $67.5 billion, while total imports were $65.1 billion. More>>

ALSO:

Approval: Air New Zealand And Air China Launch New Alliance Route

Air New Zealand and Air China have today launched joint sales for a new daily direct service between Auckland and Beijing after receiving approval from New Zealand Minister of Transport Hon Simon Bridges to form a strategic alliance. More>>

ALSO:

Money Trading: FX Trader Jin Yuan Finance Warned Over Lack Of Monitoring

Jin Yuan Finance, an Auckland-based foreign exchange trader, has been warned over its lack of anti-money laundering processes in place in the first public notification by the Department of Internal Affairs. More>>

ALSO:

Auckland Surge, Possible Peak: House Values Accelerate At Fastest Annual Pace In 8 Years

New Zealand residential property values rose at their fastest annual pace in eight years in August, pushed higher by overflowing demand in Auckland, which is showing signs speculators think it has reached its peak, according to Quotable Value. More>>

ALSO:

Cash Money: Reserve Bank Launches New $5 And $10 Banknotes

The $5 and $10 final banknotes were revealed at an event at the Bank in Wellington, and will start to be released from mid-October 2015. More>>

ALSO:

Truck Sales Booted: Commerce Commission Files Charges Against Mobile Trader

The Commerce Commission has filed charges against a mobile trader, or truck shop operator, claiming he obtained money from customers by deception and never intended to supply them with the goods they paid for. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news