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

 


Auckland average house price falls in January, Barfoot says

Auckland average house price falls in January reflecting seasonal lull, Barfoot says

By Tina Morrison

Feb. 5 (BusinessDesk) – Auckland’s average house price slipped in January, reflecting a seasonal slowdown following the Christmas and New Year holiday period.

The average sale price fell 7.6 percent to $647,207 from a record in December, although it is 7.7 percent ahead of January last year, according to realtor Barfoot & Thompson. The median price fell 7.8 percent to $580,000 from December.

“This is part of the normal seasonal trading pattern,” managing director Peter Thompson said in a statement. “All indications are that the market is building to being extremely active during the first quarter of the year.”

The agency sold 854 properties during the month, its highest January for six years. Some 39 percent of homes sold were under $500,000, the highest level since the Reserve Bank in October imposed limits on high-debt lending. That indicated banks were being more flexible towards low deposit borrowers, the realtor said.

Barfoot & Thompson had 3,371 properties listed at the end of the month, the lowest number for January in more than 11 years, suggesting prices may rise over the next three to four months, it said.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Trade Plans: Prime Minister's Speech To International Business Forum

"The work to improve public services, build infrastructure, and solve social problems is possible only because we have enjoyed sustained, solid economic growth. A big reason for that is the Government’s consistent agenda of economic reform, and our determination to open up more opportunities for trade with the world." More>>

ALSO:

Media: TVNZ Flags Job Cuts To Arrest Profit Decline

Chief executive Kevin Kenrick said the changes were aimed at creating "a sustainable future video content business for TVNZ in an ever-changing media market." More>>

ALSO:

Reserve Bank: Wheeler Keeps OCR At 1.75%

Reserve Bank governor Graeme Wheeler kept the official cash rate unchanged at 1.75 percent, as expected, and reiterated his view that the benchmark rate doesn't need shifting for the foreseeable future. More>>

ALSO:

f work for Pumpkin Patch staff

Retail: Pumpkin Patch Brand, IP Sold To Catch Group

The receivers of failed children's clothing retailer Pumpkin Patch have confirmed that the company's brand and intellectual property have been sold to Australian online retailer Catch Group. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news