2006 good year for Auckland property market

By NZPA

Wednesday 10th January 2007

The Auckland property market defied the doomsayers in 2006 with the average sale price rising nearly 5%.

Auckland real estate firm Barfoot & Thompson has released its annual sales figures for 2006 which show the company's average sale price rose by 4.8% during the year. The average sale price for all of 2006 was $480,738.

The year opened with an average monthly sale price of $428,385 in January and ended with a bumper December, which produced an average sale price of $523,793. 204 sales were made last month, compared to 160 for the same period last year.

Barfoot & Thompson sold more than 11,000 properties in Auckland during 2006.

Barfoot & Thompson director, Peter Thompson, says, "It's satisfying to see such a positive result for the Auckland property market in the face of some fairly strong negative sentiment from the commentators. Most commentators were predicting a correction and expected interest rate rises to have more of an effect than they did".

"All indications are that we can look forward to another busy year for the Auckland property market."

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