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

 

Auckland house sales fall in July, listings at 7-month low

Auckland house sales fall for second month, listings at 7-month low, Barfoot says

By Jonathan Underhill

Aug. 5 (BusinessDesk) - Auckland house sales fell for a second month in July and the number of listings declined to a seven-month low, which realtor Barfoot & Thompson attributed to a winter downturn and the looming election.

The number of sales fell to 983 in July, from 1,037 in June and down from 1,133 in the same month last year. The average sale price rose less than 1 percent from June to $719,312, Barfoot said.

House sales have been falling nationwide, led by lower-value homes, partly in response to the Reserve Bank's curbs on high-loan-to-value mortgages introduced last October. In signalling a pause in its tightening cycle on July 24, governor Graeme Wheeler noted that house price inflation "has moderated further" since the bank's monetary policy statement in June.

Barfoot managing director Peter Thompson said his firm had 3,273 properties on its books at the end of July, marginally below June and the lowest in seven months, leaving supply "extremely tight." Listing typically picks up again in August but 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," he said.

The firm sold 169 homes for more than $1 million while 289 were sold for less than $500,000.

(BusinessDesk)

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Manawatu-Whanganui Projects: PGF Top-Up To Rural Broadband Roll-Out

The government has effectively raided the $3 billion Provincial Growth Fund to top up the budget for the second phase of its rural broadband initiative, filling in mobile 'black spots' and ensuring broadband is available to marae that don't have access now. More>>

ALSO:

Other Windy Cities: Auckland-Chicago Named A Top 10 ‘Most Exciting’ New Route

The inclusion of Auckland-Chicago on Lonely Planet’s Where to fly in 2019? The 10 most exciting new flight routes list comes just two weeks before Air New Zealand prepares to celebrate its inaugural flight to Chicago’s O’Hare International Airport on 30 November. More>>

Deadly Strain: ESR Ups Its Reporting On Meningococcal Disease

The increasing number of cases of Group W Meningococcal disease (MenW) has prompted ESR to increase its reporting on the disease to the Ministry of Health. ESR has upped its reporting to weekly. More>>

ALSO:

Very Small Things: "Game-Changing" 3D Printing Technology Launched

New Zealand microfabrication researchers Andrea Bubendorfer and Andrew Best, the co-inventors of a new way of fabricating very small things with Laminated Resin Printing (LRP), are part of Callaghan Innovation’s MicroMaker3D team launching the new patent pending technology in the US this week. More>>

ALSO: