Auckland House Sales Pull Back From Entering New Territory

Auckland house sales activity quietened in April after a busy March, with only a marginal increase in the average price, and sales numbers down significantly.

“April’s prices show that Auckland house prices have pulled back from breaking into new territory,” said Peter Thompson, Managing Director of Barfoot & Thompson.

“The average price for April at $873,599 was up only 0.8 percent on that for March, and 8.6 percent ahead of where it was in March last year.  For the past year we have been looking at monthly year-on-year increases of around 12 percent.

“Sales numbers at 944 for the month were also down significantly, falling 29.6 percent on those for March and down 11.8 percent on those for April last year.

“In April we sold the lowest number of homes we have sold in an April in 4 years, and the likely cause of this was caution around current pricing and the low number of properties on the market, restricting choice.

“The median sales price for the month at $820,000 was up 2.8 percent on that for March, and also up 8.8 percent on that for April last year.

“In part, the climb in the midway price point (median price) can be attributed to the low number of homes sold in the month for under $500,000. In April only 7.1 percent of all homes sold were in this price category compared to 10.9 percent in March while house sales above the $1 million mark were the second highest for 7 months.

“Overall, activity in April is best described as restrained.

“New listings in April at 1496 were down 20.2 percent on those for March and down 5.3 percent on those for April last year. April’s new listings were the lowest in an April in three years.

“For the third consecutive month the number of properties on our books at month end declined, and at 2846 fell 8 percent below where they were at the end of March. The number of homes on our books at the end of April was the lowest they have been in an April for more than 15 years.

“While choice across all price segments was low, interest in top-end homes remained high, and 355 properties, or 37.6 percent of all homes sold, attracted a price in excess of $1 million.”

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Young Authors Challenge – 2016

It’s story time, and we want you to write us a story. It can be about anything you like.
It can be true, or completely made up. It can be happy, or scary, or funny, or exciting.
The best stories will be published in a special storybook to raise money for the
kids at Starship Hospital.

For more information and resources, and to submit your stories, go to:


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Prospect Of Rising Auckland Property Prices Has Returned

The prospect of Auckland house prices continuing to increase throughout the year has returned with March’s average sale price reaching $866,782, and the median price reaching $798,000.

“March is always one of the busiest sales months of the year, and a good indicator of where prices are tracking for the remainder of the year,” said Peter Thompson, Managing Director of Barfoot & Thompson.

“In March the average sales price was the third highest on record, within $10,000 of the all-time high in November last year, and 5.4 percent higher than last month.

“The median price at $798,000 is the second highest on record, within $2000 of the all-time high in December last year, and up 8.1 percent on February’s median price.

“When prices are this strong in March the trend is for prices to hold steady through the year.

“As it has been for the past two years, lack of supply remains the main price driver.

“New listings in the month at 1874 were solid but by month end the number of available listings at 3093 was a decline of 6.8 percent on the number the month previously.

“There has been a definite increase of the number of sales being sold under the hammer at auction, indicating keen buyer competition for available properties.

“Although a record number of building permits are being issued, and new homes are springing up everywhere, Auckland is simply not building homes fast enough to keep up with the growing population.

“Statistics NZ reported that in February alone the population of Auckland increased by about 3000 people. Based on the Auckland average occupancy for houses of three people to a property, theoretically 1000 additional properties would have had to become available in the month to house such growth.

“In March we sold 474 properties for in excess of $1 million, the highest number ever in one month and it represented more than a third of all properties sold.

“At the other end of the scale, 146 properties, or 10.9 percent of properties, sold for under $500,000” he said.

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Auckland House Price Retreat May Be Short Lived

Auckland residential house prices in February have retreated from the record prices set in the second half of last year but are still higher than where they were at the same time last year.

“The average sales price at $822,024 in February was up 1.3 percent on the average price for January and up 10 percent on that for February last year,” said Peter Thompson, Managing Director of Barfoot & Thompson.

“The median price at $738,000 was down 2.9 percent on January’s but up 7.5 percent on last February’s.

“While prices are down from their record highs, based on past trends prices in coming months are most likely to build modestly.

“This trend has occurred over the past 9 years where Auckland house prices have followed a cycle of falling in the first quarter of the year and then rising from autumn on.

“We have now had two months of trading where prices have been higher than they were in their equivalent months last year, and in the past that has meant prices have risen throughout the year.

“The most significant figures in February’s data were that sales numbers stalled and new listings doubled.

“The number of properties sold at 698 was the lowest in any month for 3 years. The reason was that at the start of February the number of properties on the market was at its lowest number for 20 years, and buyers had limited choice.

“However, as the month progressed more properties were listed, and we finished the month with 2,060 new listings, the highest number in the past six months. There are currently an extremely high number of properties in the pipeline for settlement in March and April.

“At month end we had 3,318 properties on our books, the highest since March last year, and we anticipate an extremely busy period through autumn.

“Another factor that affects the average and median sales price in the early part of the year is the summer break results in a relatively low number of sales in the $1 million plus price category.

Throughout last year on average we sold 332 properties a month in the $1 million plus price category but in February the sales in this price category numbered 187.

“Sales of properties for under $500,000 in February made up 20.6 percent of all sales, whereas throughout last year they averaged 14.9 percent of sales.



  Last Month Previous 3 Months* February 2015
February’s Average Price      
$822,024 $811,700






Median Price      
$738,000 $760,000






698 893






New Listings      
2060 919






Month-End Available Stock      
3318 2574







*Average for 3 months



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Auckland Property Choice In January Lowest In  20 Years

Auckland residential property sales in January were solid, with no clear direction emerging as to market trends for the remainder of the summer months.

“January activity was the normal mix of ups and downs that occur in the first month’s trading,” said Peter Thompson, Managing Director of Barfoot and Thompson.

“This year sales numbers were at the top end of what we normally sell in a January, prices were down with new listings being light.

“It is never a good idea to try to read too much into the first month’s sales figures.

“However, the clear signal to emerge is that buyer choice is the lowest it has been at the start of a year for 20 years.

“At the end of January we had 2574 properties on our books. This was after new listings of 919 and sales in the month of 893.

“At the same time last year we had 2889 properties on our books, which in itself had been the lowest number in 20 years.

“With so few properties on the market, now represents an excellent time to sell and this is likely to ensure that prices remain solid.

“Sales at 893 properties in January were 4 percent higher than they were in the same month last year and 12.2 percent up on those for December. Sales numbers were the highest they have been in a January for 8 years.

“Prices were down on the all-time highs achieved in the last months of 2015, with the average price being $811,700, down 6.6 percent on that for December and the median price $760,000, down 5 percent on that for December.

“On a year-on-year basis January’s average price was 7.2 percent higher than at the same time last year and the median price 8.6 percent higher.

“Rather than January’s prices reflecting a fall the decline can be traced to a change in sales patterns. During January we sold a higher percentage of homes in the outer southern and northern suburbs compared to those in the central and eastern areas than is normally the case.

“This change also shows up in the number of $1 million plus homes sold. In January 20.7 percent of all sales were for homes that went for more than $1 million. In December one million dollar homes accounted for 34.9 percent of sales.

 “The number of homes that sold for under $500,000 in January represented 28.6 percent of sales, compared to 5.5 percent in December.

“It will not be until early March, when February’s sales data is available, that a true trend for 2016 emerges.”

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