Auckland Property Sales Remain Strong In April

Monthly Auckland residential property sales continued to gain momentum during April and sales for the first four months of the year were their highest for four years.

“By the end of April this year we had sold 3440 properties, 18.5 percent higher than in the first four months of last year, 65.5 percent higher than in 2023 and 2.8 percent higher than in 2022,” said Peter Thompson, Managing Director of Barfoot & Thompson.

“It underlines that in terms of the number of sales being made, the Auckland market is building some traction.

“In April we sold 842 properties. While down nearly a third on those for March, this was the highest number of sales we have made in April for four years, and we only exceeded this number in April once in the last nine years.

“Sales in the early part of April slowed when talk of tariff ‘trade wars’ reached their highest but rebounded quickly towards month’s end.

“March is the peak of the summer selling season, and a decline in sales numbers compared to March is normal.

“From a price perspective the market showed no signs of lifting, with prices in April drifting downwards with the median price at $934,000, being down 3.7 percent on that for March, and the average price at $1,110, 689, down 3 percent.

“Prices normally ease back post March as we head into autumn.

“A marked feature of sales in April was the high percentage of sales in the under $750,000 price segment, which accounted for 26.8 percent of all sales. In March this price segment accounted for 23.4 percent of sales.

“The high number of new build apartments and town houses in the under $750,000 price segment currently hitting the market are proving extremely popular with first time buyers and investors.

“Sales of properties for in excess of $2 million represented 7.5 percent of all sales, and this figure is consistent with the percentage of $2 million sales in April last year.

“New listings for April were a healthy 1578, and were in line with April last year, and properties for sale on our books at month end were 6113.

“This number is only marginally down on last month’s record level of properties for sale at month end.

“April sales in the rural and lifestyle markets to the north, south and west of Auckland continued to enjoy strong sales activity in the month, with sales reaching a little over $61 million. This level of turnover was down only 5 percent on March’s outstanding sales month.

“With 28 rural and lifestyle properties being sold, this was the highest number of sales in the month of April in four years.”

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