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

 

What Winter? Temperature Records Set For June 20-22

The days around the winter soltice produced a number of notably warm tempertaures. More>>

Conservation Deal: New Kākāpō Recovery Partnership Welcomed

Conservation Minister Maggie Barry says the new kakapo recovery partnership between DOC and Meridian Energy is great news for efforts to save one of New Zealand’s most beloved birds. More>>

ALSO:

Tech Sector Report: Joyce Warns Asian Tech Investors View NZ As Hobbits And Food

Speaking in Wellington at the launch of a report showcasing the value of the technology sector to the New Zealand economy, Joyce said more had to be done to tell the country's technology stories overseas. More>>

ALSO:

Mediaglommeration: APN Gets OIO Approval For Demerger Plan

APN News & Media has received Overseas Investment Office approval for its plan to split out its NZME unit ahead of a potential merger with rival Fairfax Media's New Zealand operations. More>>

New Paper: Ninety-Day Trial Period Has No Impact On Firms' Hiring

The introduction of a 90-day trial period has had no impact on hiring by New Zealand companies although they are now in widespread use, according to researchers at Motu Economic and Public Policy Research. More>>

ALSO:

Corrections: Serco Exits Equity Stake, Remains As Operator

Serco has sold its equity stake in the company that holds the contract to design, build and run Wiri Prison in South Auckland but continues as sub-contractor to operate the facility. More>>

GDP: NZ Economy Grows Faster-Than-Forecast 0.7%

New Zealand's economy grew at a faster pace than expected in the first quarter of 2016 as construction expanded at the quickest rate in two years. The kiwi dollar jumped after the data was released. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news