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

 

Auckland Housing Prices Shrug Off Winter Concerns

Auckland house prices shrugged off the normal winter downturn, concerns about increasing prices and warnings of possible future interest rate rises in July.

“Mounting concerns about the prices being paid and possible future interest rate increases did nothing to dampen July trading,” said Peter Thompson, Managing Director of Barfoot & Thompson.

Sales for the month were a healthy 1235, with the average and median prices paid being more than 20 percent higher than they were 12 months ago.

“The average price at $1,183,602 was 3.5 percent higher than June’s average and was 5.3 percent higher than what we have been averaging for the past three months.

“The median price at $1,101,000 was down 0.7 percent on that for June, but 2.2 percent higher than the average median price for the previous three months.

“The winter months are normally a time when market activity slows, and prices and sales can edge lower.

“However, there are no signs of that occurring this year.

“At month end we had only 2629 on our books, our lowest for any month in more than 5 years, and our lowest in the middle of winter in modern times.

“Although new listings at 1349 in July were down modestly in comparison to recent months, they were in line with those in July for most of the past 10 years.

“The market is not suffering a lack of new listings. They are holding up well. We are simply selling all that we list promptly, at premium prices to a large pool of committed buyers.

“High prices are not proving a deterrent to top end property, and we sold 118 homes for more than $2 million in the month – more than double the number we sold in June last year.

“The rural and lifestyle markets also experienced solid trading activity, posting more than $106 million in sales for the month.

“Vendors in these markets tend to wait for spring to list but the high number of buyers in the rural and lifestyle markets at present has seen many vendors bringing forward their sales intentions, leading to an excellent level of new listings.

“For winter, the prices being paid are at premium levels.”

 

Barfoot& Thompson knows Auckland best.It is the city’s leading real estate company, selling around one in three Auckland residential homes, significantly ahead of all other competitor brands.

 

July Previous Month Previous 3 Month Average July 2020 
Average Price   
$1,183,602

$1,143,328

+3.5%

$1,123,798

+5.3%

$979,189

+20.9%

Median Price    
$1,101,000

$1,109,000

-0.7%

$1,077,000

+2.2%

$890,000

+23.7%

Sales    
1235

1243

-0.6%

1182

+4.5%

1095

+12.8%

New Listings   

1349

1485

-9.2%

1554

-13.2%

1518

-11.1%

Month-End Stock   
2629

2864

-8.2%

3107

-15.4%

3873

-32.1%

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 


Science Media Centre: Understanding DDoS cyber attacks – Expert Reaction

Cyber attacks have hit several New Zealand organisations this month, disrupting their online services. The Distributed Denial of Service (DDoS) attacks were the same kind of cyber attack that affected the NZX around this time last year... More>>


Financial Markets Authority: Spike in investment scam complaints since COVID

The Financial Markets Authority (FMA) - Te Mana Tātai Hokohoko – is warning New Zealanders to be on the lookout for three unique types of scams that have been on the rise since the start of COVID-19. The warning comes as the FMA responds to a rise in complaints about investment scams and fraud lodged with the regulator in the first half of this year... More>>


Statistics: Strong export growth narrows current account deficit to $3B

The seasonally adjusted current account deficit narrowed to $3.0 billion in the June 2021 quarter, Stats NZ said today. The current account deficit was $2.2 billion narrower than the previous quarter due to an increase in value of goods exports (up $1.4 billion) and services exports (up $1.7 billion... More>>




Statistics: GDP rises in the June 2021 quarter

Gross domestic product (GDP) rose by 2.8 percent in the June 2021 quarter, following a 1.4 percent increase in the March 2021 quarter, Stats NZ said today. June 2021 quarter GDP was 4.3 percent higher when compared with the December 2019 quarter... More>>


Energy-from-waste: $350 Million Plant To Deliver Renewable Energy Considered

Investigations have begun into the viability of building an Energy-from-Waste plant that will safely convert 350,000 tonnes of waste, that would otherwise be dumped into South Island landfills annually, into renewable electricity... More>>

Olam: Confirms plans for commissioning of NZ dairy plant

OFI, a global leader in natural and sustainable food ingredient solutions, today confirmed plans to develop a new dairy processing facility at Tokoroa. It is now taking expressions of interest from potential farmer suppliers, employees, contractors, and general trade suppliers... More>>