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

 

Uncertainty Affects Auckland Property Sales Numbers

The Auckland property market continued to be plagued by uncertainty around prices during April and although this impacted on the number of sales made, prices of those properties that did sell remained rock solid.

“In addition to the uncertainty the shadow of a potential capital gains tax threw over April sales activity, the market also had to contend with an exceptionally long holiday break created by Easter and Anzac Day being so close,” said Barfoot & Thompson Director, Kiri Barfoot.

“They were a powerful combination that hit sales activity with the agency selling 667 properties. Although this number was in line with sales numbers in April last year it represented a significant dip on March’s 963 sales.

“However, the prices paid for property moved in a narrow band, with the average sales price being $928,330 and the median sales price $830,000.

“These prices are right in line with prices last month, the average for those for the previous three months and with April last year.

“There are no signals suggesting prices might make a major retreat.

“The key to selling or buying in the current market is buyers and sellers being realistic.

“The slow market is not deterring owners listing, and during the month we listed 1192 new properties and at month’s end we had 4684 properties on our books, the same number as at the end of April last year.

“While uncertainty around prices is affecting overall sales numbers, it is not having an undue effect on any one price segment.

“Of the sales made during the month, 38 percent were for properties under $750,000, 30 percent for properties ranging in price from $750,000 up to $1 million and 32 percent for properties selling for more than $1 million.

“Rural and lifestyle property sales were higher in terms of sales numbers and prices than for the same month last year but were still lower than those achieved in March.

“In Franklin lifestyle properties around the $1 million mark attracted most buyer attention.

“Around Whangarei and Kerikeri demand from buyers was for horticulture land and small lifestyle blocks.”

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Up 0.5% In June Quarter: Services Lead GDP Growth

“Service industries, which represent about two-thirds of the economy, were the main contributor to GDP growth in the quarter, rising 0.7 percent off the back of a subdued result in the March 2019 quarter.” More>>

ALSO:

Pickers: Letter To Immigration Minister From Early Harvesting Growers

A group of horticultural growers are frustrated by many months of inaction by the Minister who has failed to announce additional immigrant workers from overseas will be allowed into New Zealand to assist with harvesting early stage crops such as asparagus and strawberries. More>>

ALSO:

Non-Giant Fossil Disoveries: Scientists Discover One Of World’s Oldest Bird Species

At 62 million-years-old, the newly-discovered Protodontopteryx ruthae, is one of the oldest named bird species in the world. It lived in New Zealand soon after the dinosaurs died out. More>>

Rural Employers Keen, Migrants Iffy: Employment Visa Changes Announced

“We are committed to ensuring that businesses are able to get the workers they need to fill critical skills shortages, while encouraging employers and regions to work together on long term workforce planning including supporting New Zealanders with the training they need to fill the gaps,” says Iain Lees-Galloway. More>>

ALSO:

Marsden Pipeline Rupture: Report Calls For Supply Improvements, Backs Digger Blame

The report makes several recommendations on how the sector can better prevent, prepare for, respond to, and recover from an incident. In particular, we consider it essential that government and industry work together to put in place and regularly practise sector-wide response plans, to improve the response to any future incident… More>>

ALSO: