Sharechat Logo

Auckland home sales fall 15 percent in February as listings reach year-high, Barfoot says

Thursday 6th March 2014

Text too small?

Auckland residential property sales fell last month from a year earlier, while listings reached an 11-month high, according to Barfoot & Thompson, the city's largest realtor.

Sales fell 15 percent to 771 last month, down from 854 in January, which was the highest for that month in six years, the firm said in a statement. The average sale price rose to $678,533 from $647,207 in January.

Actual listings stood at 3,674, the highest since March last year and up from 3,371 in January. The median price rose to $620,000 from $580,000.

"These signs are positive and an indication that the economy is stable, banks are lending, and buyers and sellers remain confident," said managing director Peter Thompson. "But there is more choice out there and that will ultimately affect prices."

The firm sold 122 homes for more than $1 million last month, up 60 percent from the same period last year. Sales of homes of $750,000 or more were up 50 percent.

"We are starting to see a return to listings levels of October and November last year," Thompson said. "For buyers, that's good, they can start to shop around, but greater choice means more competition. Sellers will need to be realistic and not overvalue their assets if they want them sold."

 

BusinessDesk.co.nz



  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

SML - Synlait Milk Limited - Trading Halt of Securities
AIA - Auckland Airport announces board chair changes
AIA - Auckland Airport announces board chair changes
CEN - Tauhara commissioning progress update
FPH initiates voluntary limited recall
March 28th Morning Report
KFL Celebrates 20 Years of Excellence in Investment Mgmt.
SVR - Savor FY24 Earnings Guidance & Change in Banking Partner
NZK - NZ King Salmon Investments Limited FY24 Results
March 27th Morning Report