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July sees an increase in new listings

July sees an increase in new listings

The Auckland property market saw an increase in new listings in July, while the average house price held steady at $654,379, an increase of a little over $4,000 on June’s average price.

“July was a good month for new listings,” said Peter Thompson, Managing Director of Barfoot & Thompson.

“During July we saw a 37 percent increase in the number of new listings onto the market. This represents the second best month for new listings in 2013.

“While new listings have increased, house prices have remained constant in Auckland since March which suggests a steady and consistent market.

“Competition for properties in Auckland remains strong, but the sales figures indicate that buyers have a keen sense of a property’s value and are keeping a level head when it comes to prices.

“In fact, the median selling price for July has shown a slight decrease at $585,000, which is $5,000 lower that in June.

“Demand for property was strong throughout July and our sales for the month were 1133, an increase of nearly 7 percent on June and a 13.5 percent increase on the same month last year. The last time we sold a similar number of properties during July was in 2005.

“By the end of July we had 2837 properties on our books, which represents 29 percent fewer listings than July last year and, in fact, an all-time low for available listings.”

During July Barfoot & Thompson sold 439 homes for less than $500,000, and a further 356 for between $500,000 and $750,000. 152 homes sold for in excess of $1 million, eight more than were sold in June.

For the fifth consecutive month sales were in excess of 1000 for the month, and sales have not been this consistently high since the first of half 2004.

Ends

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