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

 


Average Auckland home sales price more than $645,000

$1 million sales lift average Auckland home sales price to in excess of $645,000


An abnormally high number of sales above $1 million has seen the average sales price for property in the Auckland market reach $645,928 in March.

“This is our highest ever average price and exceeds last month’s average price by 6.9 percent, and the previous highest average price of $627,721 achieved in November last year by 2.9 percent,” said Peter Thompson, Managing Director of Barfoot & Thompson.

“While we expected to see a major lift in the average price between February and March, as it is a trend evident in our sales statistics since 2010, the most critical factor in the price increase was undoubtedly the number of homes that sold for in excess of $1 million.

“186, or 13 percent of all our sales, were for more than $1 million, whereas the percentage last year was 8.5 percent of sales.

“This is the highest number of sales in excess of $1 million we have ever sold in a month, with the highest concentration of sales being in the eastern and central Auckland areas, and along the North Shore beach suburbs.

“A higher-than-normal number of sales at the top end of the market does have a significant impact on the average price, and the same influence was felt when our previous highest average price was established in November, when we sold 146 homes for more than $1 million.

“We experienced an exceptional month’s trading in March, and we sold a total of 1430 homes in the month, our highest number in a month for nearly 10 years.

“While there was a great deal of focus on top-end homes, market activity was also strong in the under $500,000 price category where we sold a total of 550 homes, making up 38.5 percent of total sales.

“New listings during March at 1476 were solid, but down 15.8 percent on those in February and down 4 percent on those for last March.

“The level of new listings combined with high March sales saw available listings at month end at 3721, down 6.7 percent on those at the end of February and down 22 percent on those last March.

“It is the second lowest number of listings at a month’s end for more than a decade, and is yet another sign of the acute shortage of property available for sale in Auckland.”

Ends

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

GE Swedes And Cow Deaths: Plant Analysis Backs Up Earlier Advice

The industry body is recommending that farmers do not feed Herbicide Tolerant (HT) swedes to cows in spring when the animals are in late pregnancy or early lactation. DairyNZ is also advising caution if farmers are considering other leafy varieties. More>>

ALSO:

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