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

 


Auckland House Sales Numbers Fall

Auckland House Sales Numbers Fall As Listings Reach Seven Month Low

For the second consecutive month the number of homes sold in Auckland fell, prices remained stable while at the end of July the number of listings was at a 7-month low.

“The average sales price in July reached $719,312 for the month, which was less than a 1 percent increase over June’s average price,” said Peter Thompson, Managing Director of Barfoot & Thompson.

“Sales values over the past four months have been moving around after reaching an all-time high of $725,708 in March.

“In April and May they edged down, and while they recovered some lost ground in June and again in July, prices have certainly not returned to those being achieved in March.

“Prices at present are best described as steady.

“In part that’s because a price and trading downturn is normal in winter, but another likely cause is the impending General Election.

“The housing market invariably goes quiet during a run in to an election.

“After improving modestly in the first four months of the year, by the end of July the supply situation had again become extremely tight with only 3273 properties on our books, the lowest number for seven months.

“We normally see new listings increase during August as vendors prepare to take advantage of the increase in sales activity as spring approaches. However, with a General Election in September, the potential exists that trading in August may not follow the normal pattern as the market awaits the Election outcome.

“A stand out feature of July’s trading was that we sold 169 homes for in excess of $1 million, which represents nearly one house in every six sold.

“Sales of homes in this price segment are currently running 28.7 percent ahead of where they were last year after the first 7 months of the year.

“Investing in a home to improve lifestyle has always been a strong feature of property buying in Auckland, and buyers with the financial resources to do so are still active in the top end of the market.

“At the same time there are large numbers of properties in Auckland’s outer southern, western and northern suburbs being sold for less than $500,000.
“Out of the total number of sales during July of 983, 29.4 percent or 289 were homes in the under $500,000 price category.”

ends

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Pre-Budget: Computer Emergency Response Team, Assemble!

John Key told the country's first ever Cyber Security Summit in Auckland that the government had earmarked funding set up a national Computer Emergency Response Team to help prevent and act on cyber incidents in partnership with the private sector and other organisations. More>>

ALSO:

Job Cutter Goes: Mark Weldon To Step Down As MediaWorks CEO

“When I joined MediaWorks in August 2014, I had a mandate to lead a significant change programme to bring the business back from receivership into a position where it could once again be a strong competitor in the market, with a sound and sustainable future. It was a big brief, laden with inherent challenges, but I took it in good faith and have dedicated myself fully to the goal since." More>>

ALSO:

Must Sell 20 Petrol Stations: Z Cleared To Buy Caltex Assets

Z Energy is allowed to buy the Caltex and Challenge! petrol station chains but must sell 19 of its retail sites and one truck-stop, the Commerce Commission has ruled in a split decision that acknowledges possible retail price coordination between fuel retailers occurs in some regions. More>>

ALSO:

Huntly: Genesis Extends Life Of Coal-Fuelled Power Station To 2022

Genesis Energy will keep its two coal and gas-fired units at Huntly Power Station operating until 2022, having previously said they'd be closed by 2018, after wringing a high price from other electricity generators who wanted to keep them as back-up. More>>

ALSO:

Dammed If You Do: Ruataniwha Irrigation Scheme Hits Farmer Uptake Targets

Enough Hawke's Bay farmers have signed up for water from the proposed Ruataniwha Water Storage Scheme for it to go ahead as long as a cornerstone institutional capital investor can be found to back it, its regional council promoter announced. More>>

ALSO:

Reserve Bank: OCR Stays At 2.25%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2.25 percent, in a decision traders had said could go either way, while predicting inflation will pick up as the slump in oil prices washes out of the data and capacity pressures start to build in the economy. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news