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.
This article is tagged with the following keywords. Find out more about MyNBR Tags
Most listened to
- Order Paper: Rob Hosking on good intentions, political correctness and social investment
- Levante S is the ultimate Maserati SUV… and it’s coming to NZ
- Is Pence poised to dump Trump? asks Michael Coote
- Michael Wigley on the rising cybersecurity challenges for boards; the risks for directors; and how to deal with them
- NBR Radio: best of the week ended May 26, with Grant Walker