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

 

Must Sell 20 Petrol Stations: Z Cleared To Buy Caltex Assets

Z Energy is allowed to buy the Caltex and Challenge! petrol station chains but must sell 19 of its retail sites and one truck-stop, the Commerce Commission has ruled in a split decision that acknowledges possible retail price coordination between fuel retailers occurs in some regions. More>>

ALSO:

Huntly: Genesis Extends Life Of Coal-Fuelled Power Station To 2022

Genesis Energy will keep its two coal and gas-fired units at Huntly Power Station operating until 2022, having previously said they'd be closed by 2018, after wringing a high price from other electricity generators who wanted to keep them as back-up. More>>

ALSO:

Dammed If You Do: Ruataniwha Irrigation Scheme Hits Farmer Uptake Targets

Enough Hawke's Bay farmers have signed up for water from the proposed Ruataniwha Water Storage Scheme for it to go ahead as long as a cornerstone institutional capital investor can be found to back it, its regional council promoter announced. More>>

ALSO:

Reserve Bank: OCR Stays At 2.25%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2.25 percent, in a decision traders had said could go either way, while predicting inflation will pick up as the slump in oil prices washes out of the data and capacity pressures start to build in the economy. More>>

ALSO:

Export Values Down: NZ Posts Biggest Annual Trade Deficit In 7 Years

New Zealand has recorded its biggest annual trade deficit since April 2009, reflecting weaker prices of agricultural commodities such as dairy products, beef and lamb, and increased imports of vehicles and machinery. More>>

ALSO:

Currency Events: NZ's New $5 Note Wins International Banknote Award

New Zealand’s new Brighter Money $5 note has been named Banknote of the Year in a prestigious international competition. The $5 note was awarded the IBNS Banknote of the Year title at the International Bank Note Society’s annual meeting. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news