Auckland property sales, prices rose last month, Barfoot says

Monday 5th December 2011

Home sales in Auckland climbed 23 percent in November from October and the average selling price rose 2.5 percent, according to real estate firm Barfoot & Thompson.

There were 894 properties sold last month, about a third higher than in the same month of 2010, Barfoot said. The average price of $567,489 was the highest ever recorded for the month of November and the second highest on record.

New Listings rose 19 percent to 1,562 from the previous month, a 10-month high. Barfoot sold 75 properties at over $1 million.

“Given the number of properties we have listed for auction in December and new listings in the pipeline, we anticipate that the strong sales pattern for November will continue right up to the Christmas break,” managing director Peter Thompson said in a statement.

An ASB survey last month concluded that the nation’s house prices would show “modest growth” over the next 12 months, reflecting supply constraints. Of those polled, a net 24 percent said now is a good time to buy a house, largely unchanged from three months ago.

BusinessDesk.co.nz

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