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

 


Auckland property prices stay firm as listings swell

Auckland property prices stay firm as listings swell

Auckland residential property prices held steady during February but there are signs that an increase in the number of listings will begin to contain prices.

Sales volumes in February were down 15 per cent on the same period last year.

Concurrently, the actual number of available listings reached its highest level since March 2013, at 3674.

Barfoot & Thompson Managing Director, Peter Thompson, said these figures indicate that the market is good for buyers, but sellers need to be cautious not to overprice their properties.

“We are starting to see a return to listings levels of October and November last year. For buyers, that’s good, they can start to shop around, but greater choice means more competition. Sellers will need to be realistic and not overvalue their assets if they want them sold.”

February sales were steady for an average house price of $678,533. The February median price was $620,000.

Mr. Thompson said February sales figures were consistent across all price spectrums with a slight increase in the number of sales across higher price echelons.

Barfoot & Thompson sold 122 homes over the $1 million dollar mark in February, up 60 per cent over the same time last year.

Sales of homes $750,000 and above were up 50 per cent on 2013 figures.

“These signs are positive and an indication that the economy is stable, banks are lending, and buyers and sellers remain confident. But there is more choice out there and that will ultimately affect prices.”

Ends

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

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:

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:

Oil: 2017 Block Offer Petroleum Tender Launched

New Zealand is well-placed to take advantage of the economic benefits of oil and gas exploration, Energy and Resources Minister Judith Collins announced today at the launch of the 2017 Block Offer petroleum tender. More>>

ALSO:

OECD And Zero Carbon Reports: Environmental Pressures Rising In New Zealand

New Zealanders enjoy a high environmental quality of life and access to pristine wilderness. However, New Zealand’s growth model, based largely on exploiting natural resources, is starting to show its environmental limits with increasing greenhouse gas emissions and water pollution ... More>>

ALSO:

Statistics: Record Net Annual Migration Levels Continue

In the February 2017 year, 71,300 more migrants arrived in New Zealand than left, Stats NZ said today. This equalled the previous annual record set in January 2017. More>>

Get More From Scoop

 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news