Auckland Housing Market Steady As April Reflects Seasonal Shift

Auckland’s residential property market remained steady through April, with activity reflecting a more considered pace following the early-year lift.

“April is often a difficult month to read clearly, and this year is no exception,” said Peter Thompson, Managing Director of Barfoot & Thompson.

“With school holidays, Easter and Anzac Day all falling across the period, activity typically softens from the March peak, making monthonmonth comparisons less reliable than longer-term trends.

“The average residential sales price for April at $1,131,246, was down 3.8% on the previous month but marginally higher than April last year. While the median price at $955,250, also edged 2.3% above the same period last year, but was down 7.3% when compared to March.

“We are seeing some monthly movement, however both measures indicate pricing remains relatively steady overall, with short-term variation expected at this time of year.

“Sales numbers for the month eased back in April and we sold 688 properties, down from March’s high of 1,262 and lower than April last year, but broadly in line with the seasonal slowing seen in previous years.

“The number of new listings coming onto the market in April at 1,744, was the highest number in April for over a decade. This lifted total available stock to 6,356 listings at month end, sitting slightly above the same period last year and continuing to give buyers a wide choice.

“With global uncertainty, fuel costs and broader economic pressures still in the background, conditions favour wellprepared sellers and well-advised buyers.

“Sales in the under $750,000 category accounted for 22% of all transactions, while 6.4% of sales were in excess of $2 million. This distribution reflects activity across both ends of the market, with the majority of transactions sitting between these price points.

“Rural and lifestyle property sales in Northland and Greater Auckland remain strong in April with sales reaching over $50 million. We sold 33 properties during the month, the highest in an April for five years. Interest in this market remains present, buyers are selective and focused on quality, location and value.”

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