Free audio stream, including stories that are padlocked on our site. Listen on any device, anywhere. Updated twice daily. The audio stream takes several seconds to start on Android devices.Launch Radio player
BUSINESSDESK: Auckland house prices and number of sales fell in April, despite March having the strongest monthly sales in five years.
Barfoot & Thompson, which sells about one in three Auckland residential properties, said the average April sale price was $568,000 - $3000 lower than in March.
Its April sale numbers of 750 were 40% lower than the previous month, though consistent with April 2011 sales.
“At month’s end we had only 4621 homes on our books throughout Auckland, the lowest number in four months and 17.2% lower than at the same time last year,” managing director Peter Thompson said.
“This underlies the extent to which there is a lack of choice available to potential home buyers.”
March and April normally represent the high point of summer sales activity, with prices and volumes tending to ease going into autumn.
Mr Thompson predicts the high level of buyer interest and low levels of choice will likely see prices hold firm during May.
“For three of the four months of this year, the average sales price for the month has been higher than the corresponding month last year,” Mr Thompson said.
Price increases have ranged from 4.2% in April, to 2.7% in January and February. March’s corresponding year price difference was a fall of 1.7%.
“Prices are not running hot and those being achieved above realistic valuations are the exception and not the norm,” he said.
This article is tagged with the following keywords. Find out more about MyNBR Tags
- Dollar heads for 1.7% weekly decline after Reserve Bank rules out rate rises
- Lubricant deal slips away as Commerce Commission nixes merger
- Rodney Hide is wrong on climate change
- 'I guess I'm back to piracy' — Auckland man as HBO NOW follows through on cut-off threat
- The Moxie Sessions: Will the last person out of Ohura please turn out the lights (but for the love of God don’t unplug the navigation beacon)