Barfoot & Thompson managing director Peter Thompson said yesterday Auckland house prices edged up slightly in June, while the number of sales & listings were consistent with the same period last year.
The agency’s average sale price rose 3.9% from May to $908,343 in June, and the median rose 3.7% to $839,500.
“The moderate increases in the average sales & median prices are a measure of a very tight supply situation. At the same time it demonstrates that residential purchasers are maintaining a level head in terms of the value they see in the properties on offer. These are signs that vendors are similarly realistic, even in a constrained market.
“During the first 6 months of 2016 we have seen an 11.9% increase in the average house price across the city, and the June year-on-year increase is 9.9%.
“The number of new listings (1170) & volume of sales (1168) were a marginal increase on last year’s record figures for the same period. However, June continued to conform to seasonal norms, with numbers of new listings down 7% and sales numbers down 10% when compared to May’s data.
“At month end we had 2936 properties on our books, which is 2.6% lower than the previous month’s 3013.
“Just under half of all the properties sold in June (446) sold for in excess of $1 million, with just 67 selling for less than $500,000.”
Attribution: Agency release.