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

 

Auckland January House Sales See Higher Sales, Lower Prices

The Auckland housing market made its traditional modest start to the year in January with relatively high sales numbers and lower sales prices.

“From a price perspective, the market has started the year at the same point it was in January 2018,” said Peter Thompson, Managing Director of Barfoot & Thompson.

“The average sales price for the month at $927,181 was down significantly from the $950,312 in December, but that trend between January and December shows up at the start of each year and not too much can be read into it given the interruption to marketing caused by the holiday season.

“The same trend is there for the medium price, which at $827,500 is down 5.4 percent on that for December.

“However, when you compare the average and medium sales prices in January to those in the same month last year, they are almost identical.

“January’s prices reflect the state of the market we reported in December, which saw prices edging back.

“What is significant is that sales numbers are up considerably – at 653 being 29.6 percent higher than in December and 10.1 percent higher than they were for the same month last year.

“January’s sales are the highest they have been in a January for three years.

“It points to vendors accepting that the market has moved in favour of buyers, and they are trimming their expectations as to the price they will accept.

“However, there is certainly no indication that there is a major decline in prices.

“We listed a solid 981 properties in January, and at month end had 4334 properties on our books, 3.4 percent higher than in December. This is the highest number of listing we have had at the end of January for 7 years.



“Market indications are that a significant number of new listings will hit the market in February further increasing the already strong level of buyer choice.

“There is no lack of buyer interest for well-priced property in all price categories and attendance at open homes since Christmas has been surprisingly strong.

“We continued to sell properties across all price bands, with 28.8 percent of sales being for in excess of $1 million and 41.5 percent of sales being for under $750,000.

“The lifestyle and rural markets experienced a similar start to the year with modest sales numbers and restrained prices.

“Towards the end of the month listings and buyer inquiries in the lifestyle and rural markets started to increase as people returned from their summer break.”

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Tax Bill Passes, Drops: “An End To Unnecessary Secondary Tax”

“The changes mean Inland Revenue will more closely monitor the tax paid by wage and salary earners through the year. If it appears the worker is being over taxed, Inland Revenue will suggest a more suitable PAYE tax code tailored to that worker.” More>>

ALSO:

Ethiopian Airline Crash: Boeing 737 Max Aircraft Operations Temporarily Suspended

New Zealand’s Civil Aviation Authority has suspended the operation of Boeing 737 MAX aircraft to or from New Zealand. Currently this affects only one operator, Fiji Airways. There are no other airlines that fly this aircraft type to New Zealand. More>>

ALSO:

Sorting Out DNA: Crime-Busting Software Wins Top Science Prize

Software developed in New Zealand that has contributed to identifying suspects in tens of thousands of criminal cases around the world has won the 2018 Prime Minister’s $500,000 Science Prize. More>>

ALSO:

In The High Court: IRD Wins Tax Avoidance Case

Inland Revenue has won a High Court case against Eric Watson’s Cullen Group over a nearly $52 million tax debt. More>>

ALSO:

Insurers Withdraw From Market: Plea For EQC Rethink

A consumer watchdog wants the government to rethink the Earthquake Commission (EQC) as more people are pushed out of getting property and contents insurance. More>>

ALSO:

Women's Day: New Zealand Rated Third Best In OECD For Working Women

New Zealand has been rated among the top countries in the world for working women. The Women in Work Index rated New Zealand third in the OECD and it was the only country outside Europe to make the top 10. More>>

ALSO: