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

 


Winter slows Auckland home sales numbers, but values edge up


Winter slows Auckland home sales numbers, but values edge up

The onset of winter had its traditional impact on the Auckland property market in terms of sales numbers and new property listings during June. However, prices continued to edge up during the month.

“The average sales price during June was $714,054, which was up 1.6 percent on May’s average price, and the second highest average price on record,” said Wendy Alexander, Chief Executive Officer of Barfoot & Thompson.

“While the number of sales at 1037 for the month was lower by 6.5 percent on those for May, and right in line with those for May last year, the demand for higher value properties from prospective buyers saw the average sales price increase by $11,000 over that for May.

“The average sales price has now risen by 9.9 percent over what it was in June 2013.

“During the month we sold 179 homes for in excess of $1 million, which represents 17.3 percent of all the homes sold, and 35.9 percent of the total sales value of all homes sold.

“Even six months ago, sales of this number of high value homes would have been exceptional.

“What this underlines is that while supply continues to lag behind demand, values for high end homes will climb.

“With close to a third of all June properties selling for less than $500,000, the median sales price for the month edged down by 2.9 percent on that for May to $626,500.

“The median price tends to be more volatile than the average price, but at $626,500 it is 8.2 percent higher than the median price for the 2013 year.

“The number of new listings in June was 1149, our lowest number this year and down 12.8 percent on those for May. While a fall in new listing is a trend commonly seen at the start of winter, it will add pressure to lack of choice in coming months.

“At month end we had 3274 properties listed, our lowest number for 5 months. Compared to the number of properties available at this time of year over the past 10 years, choice remains very limited.”


Ends

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Scoop Business: RBNZ Keeps OCR At 3.5%, Signals Slower Pace Of Future Hikes

Reserve Bank governor Graeme Wheeler kept the official cash rate at 3.5 percent and signalled he won’t be as aggressive with future rate hikes as previously thought as inflation remains tamer than expected. The kiwi dollar fell to a seven-month low. More>>

ALSO:

Weather: Dry Spells Take Hold In South Island

Many areas in the South Island are tracking towards record dry spells as relatively warm, dry weather that began in mid-August continues... for some South Island places, the current period of fine weather is quite rare. More>>

ALSO:

Scoop Business: Productivity Commission To Look At Housing Land Supply

The Productivity Commission is to expand on its housing affordability report with an investigation into improving land supply and development capacity, particularly in areas with strong population growth. More>>

ALSO:

Forestry: Man Charged After 2013 Death

Levin Police have arrested and charged a man with manslaughter in relation to the death of Lincoln Kidd who was killed during a tree felling operation on 19 December 2013. More>>

ALSO:

Smells Like Justice: Dairy Company Fined Over Odour

Dairy company fined over odour Dairy supply company Open Country Dairy Limited has been convicted and fined more than $35,000 for discharging objectionable odour from its Waharoa factory at the time of last year’s ”spring flush” when milk supply was high. More>>

Scoop Business: Dairy Product Prices Decline To Lowest Since July 2012

Dairy product prices dropped to the lowest level since July 2012 in the latest GlobalDairyTrade auction, led by a slump in rennet casein and butter milk powder. More>>

ALSO:

SOE Results: TVNZ Lifts Annual Profit 25% On Flat Ad Revenue, Quits Igloo

Television New Zealand, the state-owned broadcaster, lifted annual profit 25 percent, ahead of forecast and despite a dip in advertising revenue, while quitting its stake in the pay-TV Igloo joint venture with Sky Network Television. More>>

ALSO:

Get More From Scoop

 
 
Computer Power Plus

Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news