Barfoot’s Auckland property listings jump 40%, average price slips

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

Auckland real estate firm Barfoot & Thompson's new listings more than doubled in January from December while the average sale price fell, suggesting the city's overheated property market is luring more sellers.

Auckland's biggest real estate firm listed 1440 properties in January, the highest for that month in five years and up 40 percent from January 2012. The firm had 697 listings in December.

The average sale price last month was $600,754, the first time it has exceeded $600,000 for January. That is up 13 percent from a year earlier and down from $624,015 in December. The average price hit a record $627,721 in November.

New listings in January outpaced the 820 properties sold by Barfoot in the month, which was a six-year high and up 20 percent from a year earlier.

Of the total properties sold, 47 percent were under $500,000 and about 16 percent below $300,000. There were 68 homes sold for more than $1 million.

(BusinessDesk)


5 · Got a question about this story? Leave it in Comments & Questions below.

This article is tagged with the following keywords. Find out more about MyNBR Tags

Post Comment

5 Comments & Questions

Commenter icon key: Subscriber Verified

Supply and demand, baby.

Reply
Share
  • 0
  • 0

So that means 236 sold from between $500K & $1 million, right. Not a bad month for B&T when you add up that commission.

Reply
Share
  • 0
  • 0

Agents should start reducing their fees. As house prices soar, so do the obscene commissions real estate agents charge as it is based on a percentage of the value of the house!

Reply
Share
  • 0
  • 0

The listings of a particular company are not representative of a market.

Reply
Share
  • 0
  • 0

I'd like to know how many actually sell. Listings are not worth a cent if the property can't sell or fetch a price the vendor is happy with.

Reply
Share
  • 0
  • 0

Post New comment or question

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.

NZ Market Snapshot

Forex

Sym Price Change
USD 0.6649 -0.0033 -0.49%
AUD 0.8917 0.0017 0.19%
EUR 0.6047 0.0043 0.72%
GBP 0.4275 -0.0016 -0.37%
HKD 5.1563 -0.0304 -0.59%
JPY 81.0130 -1.0840 -1.32%

Commods

Commodity Price Change Time
Gold Index 1163.5 -2.500 2015-07-02T00:
Oil Brent 62.6 -0.180 2015-07-02T00:
Oil Nymex 56.9 -0.010 2015-07-02T00:
Silver Index 15.6 -0.015 2015-07-02T00:

Indices

Symbol Open High Last %
NZX 50 5840.9 5840.9 5840.9 -1.10%
NASDAQ 5024.3 5027.5 5013.1 -0.08%
DAX 11082.0 11123.2 11099.4 -0.37%
DJI 17763.3 17825.5 17757.9 -0.16%
FTSE 6630.5 6630.8 6630.5 -0.67%
HKSE 26084.0 26261.5 26064.1 -4.39%
NI225 20200.2 20310.7 20539.8 -2.34%