Thursday 4th December 2008 |
Text too small? |
Barfoot had 546 sales last month, down from 881 a year earlier, it said in a statement. The average sale price fell to $500,840 from $546,364.
"Buyers are very cautious and holding back on committing themselves," said managing director Peter Thompson. Still, the central bank's 150 basis point cut to the official cash rate today "may be just the confidence booster buyers need to make a move," he said.
Four banks - SBS, Kiwibank, ASB Bank and Westpac - trimmed mortgage rates following the central bank's decision to cut the OCR to 5% today. SBS lowered its floating rate to 7.20%, ASB cut its variable rate to 7.95%, Westpac reduced its 18-month and two-year fixed rates to 6.79% and 6.85% respectively, and Kiwibank reduced its one-year fixed rate is 6.49% and its variable rate to 7.45%.
Barfoot said it signed up 1,407 new listings in November, down from 1,945 last year. Property management picked up, with 660 properties let last month, up from 628 in November 2007. The average weekly rental was little changed at $381, from $385 in October.
No comments yet
GTK - Half-Year Results Announcement Date
Government ends war on farming
Sky and BBC Studios renew expanded, multi-year agreement
AOF - Q1 Improved Trading Performance & FY24 Guidance Maintained
Devon Funds Morning Note - 23 April 2024
April 23rd Morning Report
RYM - Group CEO Update
BGI - Director Michael Chai
RAD - Final Dividend and Strong FY24 Operating Performance
RYM - Group CEO Update