Wednesday 6th June 2012 |
Text too small? |
The Auckland housing market had its strongest month of May in seven years, with the average sale price hitting a record high. Barfoot & Thompson, which sells about one in three Auckland residential properties, said the average May sale price rose 2.5 percent to $582,285.
That's the highest average price the firm has ever recorded. Sales increased 31 percent to 1,165 on the same period a year, a 55.3 percent jump on April's 750 sales. "A significant number of new listings, keenly priced mortgage lending rates, fine weather and a large pool of potential buyers all played their part in the level of activity achieved," said Peter Thompson, managing director, in a statement.
"The low number of new homes built in past years, coupled with Auckland's population growth, has created a situation where supply remains the issue, and this is reflected in the prices being obtained."
March and April normally represent the high point of ‘summer’ sales activity and prices as volumes tend to ease, though the "market shows no signs of slow down as we approach winter," Thompson said. The number of new listing rose 12.2 percent when compared to the month earlier. It sold 91 homes valued at more than $1 million, while a little more than half the homes sold were valued at less than $500,000.
BusinessDesk.co.nz
No comments yet
CDC Independent Valuation - 30 June 2025
TruScreen Group Limited SPP Update
THL provides updated guidance
CEN - Greymouth gas deal
July 4th Morning Report
July 3rd Morning Report
ikeGPS Chief Financial Officer Transition
TWL - TradeWindow announces strategic partnership with FTA
BLT - Patent issue settled and new 5 year agreement with BSP
July 2nd Morning Report