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An exceptional month for sales across Auckland

April 4, 2014

An exceptional month for sales across Auckland

March was a busy month for residential sales across Auckland. The month traditionally yields the highest sales figures for a calendar year, and this month continued the trend with 1392 residential sales, an 80 percent increase from February sales and the second busiest March since 2007.

Auckland residential property prices saw a seven percent increase during March, compared to February’s prices, with average house prices reaching $725,708. The median sales price for the month was $652,000.

Barfoot & Thompson Chief Executive Officer, Wendy Alexander, said March activity has been consistent with seasonal property trends.

“March is traditionally the busiest month in the property calendar, so it is no surprise that we saw a significant increase in residential sales when compared to the previous month. Demand for property across the wider Auckland region remains strong, and will continue to do so for the foreseeable future.

“New listings for the month were the highest in any March for six years, and there is a wide range of properties coming through on our listings. While there remains a large number of buyers coming into the market, there was also more choice. Properties are selling quickly because they are priced sensibly to meet the market.”

Sales of homes over $1 million continued to grow with homes in this price bracket accounting for 35 percent of total residential sales for March. This represents the largest number of premium properties sold during a single month since 2008.

At the other end of the spectrum, 19 percent of homes sold in March were under $500,000.

Ms Alexander said the activity at both ends of the housing market demonstrated the diversity and wide-range of properties on offer throughout the Auckland region.

Barfoot & Thompson knows Auckland best. It is the city’s leading real estate company, selling around one in three Auckland residential homes, significantly ahead of all other competitor brands.

For further information visit www.barfoot.co.nz

ENDS

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