Winter slows Auckland home sales numbers, but values edge up
The onset of winter had its traditional impact on the Auckland property market in terms of sales numbers and new property listings during June. However, prices continued to edge up during the month.
“The average sales price during June was $714,054, which was up 1.6 percent on May’s average price, and the second highest average price on record,” said Wendy Alexander, Chief Executive Officer of Barfoot & Thompson.
“While the number of sales at 1037 for the month was lower by 6.5 percent on those for May, and right in line with those for May last year, the demand for higher value properties from prospective buyers saw the average sales price increase by $11,000 over that for May.
“The average sales price has now risen by 9.9 percent over what it was in June 2013.
“During the month we sold 179 homes for in excess of $1 million, which represents 17.3 percent of all the homes sold, and 35.9 percent of the total sales value of all homes sold.
“Even six months ago, sales of this number of high value homes would have been exceptional.
“What this underlines is that while supply continues to lag behind demand, values for high end homes will climb.
“With close to a third of all June properties selling for less than $500,000, the median sales price for the month edged down by 2.9 percent on that for May to $626,500.
“The median price tends to be more volatile than the average price, but at $626,500 it is 8.2 percent higher than the median price for the 2013 year.
“The number of new listings in June was 1149, our lowest number this year and down 12.8 percent on those for May. While a fall in new listing is a trend commonly seen at the start of winter, it will add pressure to lack of choice in coming months.
“At month end we had 3274 properties listed, our lowest number for 5 months. Compared to the number of properties available at this time of year over the past 10 years, choice remains very limited.”
Barfoot & Thompson knows Auckland best. It is the city’s leading real estate company, selling around one in three Auckland residential homes, significantly ahead of all other competitor brands.
Happy Monday to all. Those who attended last Friday would know we had a Branch Party to celebrate our new renovations and also Michael Becks retirement. Our social media (self proclaimed) guru, Jordan Brown whizzed around and took some great snaps of everyone enjoying their night. We had Uke Juice preforming while Cook handled the decorations & catering to make sure all were satisfied. Take a look at the team!
Auckland Property Market Decelerates as Winter Approaches
The Auckland residential property market continued to slow down throughout May.
“The average sales price during May was $702,966, down less than one percent or $6,000 on April’s figure”, said Peter Thompson, Managing Director of Barfoot & Thompson.
“House prices have remained static throughout May, but the market itself has been very active in comparison to April sales. We sold 1,109 properties throughout the month, which is a 37 percent increase on the previous month. However, sales were down 14 percent when compared to the same month last year.
“New listings at 1,318 were the lowest in three months, and down 19 percent on those in April. At the end of May we had 3,498 properties on our books, the second lowest number in May for more than 10 years.
“It is by now a well-worn story; Auckland remains a city with a greater number of people chasing fewer properties. Those properties that are priced sensibly to meet the market are selling quickly.
“Vendors are still choosing auction as their preferred method to go to market. The success rate at auction is around 80 percent within a seven day period. This is because we are experiencing a trend towards properties that are passed in at auction either selling later the same day or within seven days of the auction.
“Overall the market is in line with seasonal activity, and we are likely to see further cooling with average and median sales prices falling back slightly over the winter months,” said Mr Thompson.
The median sales price for May was $645,000, an increase of four percent above that for April.
During the month Barfoot & Thompson sold 188 properties over $1 million, and at the other end of the spectrum, 343 sold for less than $500,000.
So now that we have finally settled into our new building, I thought it was time to catch up on some neglected social media posting. A few things have been happening at the Greenlane Branch.
1) Sending all our love to Maria Lau who has taken an extended break. We miss your presence second Mum so come on back soon!
2) We have successfully moved, renovated and moved back into our new office in a time frame of about 5 and a bit months. 3 months downstairs and roughly 2 upstairs. I whizzed around the office and took a few panoramas of the new building to show you what’s going on in the Branch right now. As you can see, there are a few boxes that still need homes.
3) Michael Beck, Greenlane Sales Manager and Team Leader is throwing in the towel after 10 long years to an enjoyable retirement. Wishing you all the very best and a terrific trip to Europe. Thank you for all your support. All your efforts have been well recognised and greatly appreciated.
AND OF COURSE..
4) We have our other important Team Leader, Marie Lee back! You have been missed! - And soon, she is off to Spain in August/September to watch the FIFA World Basketball Cup. She will be over there to support New Zealand take on the United States of America! (Lucky for some!)
Greetings friends! *waves*
This is our first blog post for the year (We have been a bit slack, I know.) and want to make it a good one so why not make it all about what we know best, Auckland. We are so lucky to be given some awesome events and opportunities so if you’re up for a bit of fun, get out there and enjoy them! The weather has been a little gloomy but weather reports show this..
.. so chuck your woolly on and get amongst it. There is always something happening in the neighbourhood and thought we’d let you in on our top picks for this weekend. Check it out.
1) WILDLIFE PHOTOGRAPHER OF THE YEAR - Displaying some of the worlds best images. I’ll be checking this one out. Special Exhibitions Hall, Auckland Museum.
2) MY COUNTRY - Fantastic work that the Auckland Art gallery is fortunate to have. Aboriginal and Torres Strait Island artists. Fascinating….
3) ANNIE - “Tomorrow.. tomorrow.. the weekend’s.. tomorrow” Seriously though, who doesn’t love a cute redhead?
4) FIVE MAORI PAINTERS - Last chance to check it out! Ends this weekend.
5) AOTEA SQUARE ICE RINK - The Skating Rink is back for another round only a few days ago. You are never too old to ice skate.
Auckland housing activity increases but prices remain stable
The average price for an Auckland home has barely changed over the past five months.
Barfoot & Thompson’s average sales price in August was $647,647, more than $6700 lower than in July and more than $2200 lower than in June.
“For the past five months the average sales price for Auckland houses has remained constant,” said Peter Thompson, Managing Director of Barfoot & Thompson.
“After a rapid increase in the first quarter of the year, prices have settled down, and there has been no upward pressure on prices for the past two months.
“This is confirmed by August’s median house price, which at $561,500 is down 4 percent on the median price for July, and down 4.8 percent on June’s median price.
“August’s median price is right in line with that for November last year, suggesting prices have remained stable for nine months.
“What did change in August was that there was greater choice for buyers than there has been for some months.
“New listings in August at 1710 were excellent, and were up 4.5 percent on those for July.
“August’s new listings were the second highest in a month so far this year, and were 20.7 percent higher than at the same time last year.
“Sales in August were also strong, and at 1200 were up 5.9 percent on those for July and 18.1 percent higher than in August last year.
“It added up to an extremely active market, but with prices restrained.
“At month’s end we had 2999 properties on our books. While this is relatively low, it was the highest number for three months.”
A feature of August’s trading was a drop in the number of homes that sold for in excess of $1 million.
“We sold 118 homes for more than a million during the month, well down from July’s 152 and the 144 in both May and June.
The Carlton Black under 12 restricted team won the Auckland Championship against Pakuranga 14 to nil. We had 575 points for and 57 points against. We won all 13 games this season with no losses.
The team wore their track suits with pride and made sure to have them on when receiving their first place medals and cup from the Auckland Junior Rugby representative. A lot of people commented on the Barfoot & Thompson logo and your name definitely got out there!!
We are off to Taupo on the 21st of September to try and win the tournament down there. Thank you for your generous donation that ensured all our team could travel down there. Without your donation a few boys would have to be left behind so your help was appreciated very much!
We would like to thank Barfoot and Thompson Greenlane for all your support during our season.
We will keep you updated on our progress in Taupo
Thank you once again
Ange and Pete Fitzgerald
Coach Carlton Black under 12 restricted rugby
July sees an increase in new listings
“July was a good month for new listings,” said Peter Thomson, Managing Director of Barfoot & Thompson.
“During July we saw a 37 percent increase in the number of new listings onto the market. This represents the second best month for new listings in 2013.
“While new listings have increased, house prices have remained constant in Auckland since March which suggests a steady and consistent market.
“Competition for properties in Auckland remains strong, but the sales figures indicate that buyers have a keen sense of a property’s value and are keeping a level head when it comes to prices.
“In fact, the median selling price for July has shown a slight decrease at $585,000, which is $5,000 lower that in June.
“Demand for property was strong throughout July and our sales for the month were 1133, an increase of nearly 7 percent on June and a 13.5 percent increase on the same month last year. The last time we sold a similar number of properties during July was in 2005.
“By the end of July we had 2837 properties on our books, which represents 29 percent fewer listings than July last year and, in fact, an all-time low for available listings.”
During July Barfoot & Thompson sold 439 homes for less than $500,000, and a further 356 for between $500,000 and $750,000. 152 homes sold for in excess of $1 million, eight more than were sold in June.
For the fifth consecutive month sales were in excess of 1000 for the month, and sales have not been this consistently high since the first of half 2004.
via: Peter Thompson
4 PRE AUCTIONS HAPPENING NOW!
- 71 Wheturangi Road, Greenlane
- 8 Pohutukawa Place, Ellerslie
- 6/6 Lonsdale Street, Ellerslie
- 5 Clarke Road, Royal Oak
Good luck to all bidders!
"A special momento - last night our founding members (Val Barfoot & Maurice Thompson) were inducted into the NZ Business Hall of Fame. Pictured here: Kiri Barfoot (director, granddaughter), Henry Barfoot (grandson), Garth Barfoot (director and son), The Governor-General, Lt Gen The Rt Hon Sir Jerry Mateparae, Peter Thompson (Managing Direcotr and grandson), Helen O’Sullivan (CEO of REINZ), Wendy Alexander(our CEO) and Chris Dobbie (our CFO)"
via the Barfoot & Thompson Facebook Page
Our very bubbly office temp Betty Parker received a special delivery in the office this morning! A BIG beautiful bouquet for her 1st wedding anniversary!
All the best Betty & enjoy!