Auckland house sales fell in August

The volume of sales fell to 502 from 629 in July, according to the firm's sales figures. Sales were down from 764 in August 2007. The average price was NZ$524,248, up 5.4% from July.

The decline in volumes and lower-than-average new listing suggest vendors are nervous about testing the market and may also be nervous about the impact of the looming general election, said, managing director Peter Thompson said in a statement.

Property rents were unchanged for the month with the average weekly rental at $384.

The figures add to evidence the housing market is in decline, after government figures on August 29 showed the number of home-building consents held near the lowest level in 22 years in July. Consents rose 4.7% in July to 1,405, seasonally adjusted, from 1,341 in June, according to Statistics New Zealand. The June reading was the lowest since 1986.

The domestic economy contracted in the first half of the year, according to the Treasury, the first recession since 1998.

By Jonathan Underhill

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.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Related News:

30th November 2021 Morning Report
Serko Limited (NZX: SKO) Announces Opening of NZ$10 Million Retail Offer
Rua Bioscience Limited (NZX: RUA) Rua to Accelerate Growth with Proposed Acquisition of Zalm
The New Zealand Refining Company Limited (NZX: NZR) Successfully Completes Placement
NZME Limited (NZX: NZM) Acquires BusinessDesk to Supercharge Digital Growth
Cannasouth Limited (NZX: CBD) Acquisition of Outstanding Stake in Cultivation JV Complete
Geneva Finance Limited (NZX: GFL) Half Year Results
The New Zealand Refining Company Limited (NZX: NZR) NZ announces equity raising
Asset Plus Limited (NZX: APL) Result for the six months ended 30 September 2021
Me Today Limited (NZX: MEE) 30 September 21 Results and Conditional Placement