Fewer Auckland properties on the market
The number of properties on the Auckland market dipped in June to their lowest level in nearly four years.
The number of properties on the Auckland market dipped in June to their lowest level in nearly four years.
Many homeowners are waiting for a more stable economy to make decisions about property, said Barfoot and Thompson managing director Peter Thompson.
Barfoot and Thompson had 5067 properties on their books last months, the lowest number since August 2007.
Mr Thompson says buyers have had a lack of choice over the last three months, but it has not meant higher sale prices typical of a decrease in supply.
However sales volumes were up 31.3 per cent on those for June last year, continuing a four month trend of sales being higher than the corresponding month in 2010.
The average price was $521,019, down 1.6 per cent on the average price in May, and down $2,000 on the average price for June last year.
“There is a high level of demand for properties, but lack of confidence in the future of the economy is creating a natural brake on the willingness of owners and buyers to commit to moving on with their housing plans,” said Mr Thompson.
Nicola Williams
Tue, 05 Jul 2011
Tue, 05 Jul 2011
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Fewer Auckland properties on the market
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