We are looking pretty good! Don’t you think?
We are looking pretty good! Don’t you think?
Auckland house prices static for second consecutive month
For the second consecutive month, Auckland house prices have remained steady.
“The average sales price in May was $644,737, up less than $2000 on the figure for April and down less than $1500 on March’s all-time record average price,” said Peter Thompson, Managing Director of Barfoot & Thompson.
“The upward price momentum that started in October 2012 has stalled.
“While realistically priced properties still continue to sell almost as soon as they come on the market, there is resistance to going above current values.
“Buyers can see value in the prices at which properties are currently changing hands, but they are not adopting a “buy at any price” attitude.
“Rather than experiencing runaway prices, the Auckland property market has come out of the other side of a period of price rebalancing caused by five years of modest price growth.
“May’s average price is 10.7 percent ahead of the average price in May last year. While some properties sell well above their CVs, they are the exception and there are often valid reasons for the price differential.
“The median sales price in May of $570,000 confirms the same trend shown in the average sales price.
“In May the median price was $4000 above that for April and $10,000 below that for March.
“What did not change in May was the number of properties being sold, and the speed at which they were sold.
“In May we sold 1284 properties, 20.9 percent more than in April and 10.2 percent more than in May last year.
“New listings at 1315 were our lowest for four months, and down 14.2 percent on those for April.
“At the end of May we had 3034 properties on our books, our lowest number in more than a decade. At current sales levels that represents only 8 to 9 weeks of stock.
“Auckland remains a market where there are too many people chasing too few properties, and until there is an increase in the number of properties buyers will remain frustrated at the limited choice available.”
During May 144 properties sold for in excess of $1 million. A further 519 properties sold for less than $500,000.
via: Peter Thompson
The new owners of 5/20 Allenby Road, Panmure just picked up the keys to their new property with a little help from our agent Anna Stephens-Brown. They were so delighted with their gift basket, I had to snap a shot. Well done Anna & all the best to Patricia & Donal McCallig.
Happy purchasers in the Greenlane Branch this afternoon. Great way to end a busy week!
Did you know Barfoot and Thompson have an iPad app? Have you downloaded it yet? Its free!
Here is a summary to give you a better understanding and how this app can help you!
This app also helps our agents too. They have everything at the tip of their fingers when out on appointments with clients. With staff access, they can use this app to…
Have I mentioned this app is FREE to download from iTunes? Get it HERE!
Three Month Advance In House Prices Eases In April
The three-month uninterrupted increase in Auckland house prices ended in April, with the average sales price dipping to $643,089, down a little under half of a percent on March’s all time high of $645,928.
“April’s decline in the average sales price confirms that buyers are taking a measured approach to what they are prepared to pay for property,” said Peter Thompson, Managing Director of Barfoot & Thompson.
“Buyers are only prepared to pay what they believe to be fair value, and they have not adopted a buy at any price approach.
“That there was a definite pause in the upward movement in house prices in April is reinforced by the median sales price, which at $566,000 was down $14,000 or 2.4 percent on the median price for March.”
Mr Thompson said that the number of new listings in April was excellent, with 1532 new properties being listed, up 3.8 percent on those for March and up 21 percent on those for April last year.
“This created a modest increase in the choice of properties for sale over those in March, but it was not a major contributor to the downward pressure on prices.
“In historical terms, choice is still severely limited and it was price that was more the deciding factor in April.
“Price acted as a self-regulator and buyers were not prepared to pay over the top prices.”
Sales at 1062 properties were the highest in an April for 11 years, but were still down by more than a quarter on March’s 1430.
Mr Thompson said that 40 percent of all the sales in April were for under $500,000, up from 38.5 percent in March.
“While 103 properties sold for in excess of a million dollars, this was a modest number compared to the 637 homes that sold for under $500,000.
“Demand for property outside the inner ring of suburbs around the central city area is still attracting solid buyer support.”
At month end Barfoot & Thompson had 3467 properties on its books, its second lowest number in more than a decade and down 6.8 percent on the number at the end of March.
via: Peter Thompson
A bit of excitement outside the branch this morning.
(False alarm people, false alarm!)
Thank you kindly to Barfoot & Thompson St Heliers for having me yesterday! It was a very wet and windy day in the bay. Extra special thanks has to go to Maree Currie for taking the time to meet with me. I really appreciate it! :)
Last week I was kindly invited to the Migun Wellness Clinic to take a look around and ‘test’ the Migun magic. I went to get a better understanding of what they are all about and make contact with a great local business around the area. They have an awesome set up on the ‘T’ of Main Highway, directly opposite Ladies Mile in Ellerslie, about a 2 minute drive from our office.
I was lucky to experience a thermal massage and as expected, it was one of those massages you think, “Damn, this can’t be over already?” I’ve always been a huge fan of massages and relaxation so this visit was absolutely one of the ‘better’ days of the week, something (just quietly) I was really looking forward to.
Migun is in an easy location, for those who aren’t familiar with the Ellerslie area, I’ve taken a photo of my view from where I’m standing outside the clinic so take a look.
I was greeted by an awesome Bella who kindly took my details and allocated me to a bed. Lying flat on my back, the thermal massager’s built in the bed worked all the way up the sides of my neck to just over the back of my knees plus a thermal unit on my stomach making it easy to close the eyes and relax the mind.
Thermal massage sessions are just a smidgen of what they do including various techniques of treatment like chiropractic care, acupuncture and also traditional massage therapies. For the full low down including prices and locations, see their website HERE!
Don’t forget to like them on Facebook as well.
I really look forward to my next visit. They are a fun, friendly team with quality equipment who know health & wellness. Stop by to 101N Main Highway, Ellerslie and discuss your health concerns to see what they can do for you!
A snapshot of our Director, Garth Barfoot competing in the Triathlon over the weekend in Auckland City! What a trooper! Well done!
An abnormally high number of sales above $1 million has seen the average sales price for property in the Auckland market reach $645,928 in March.
“This is our highest ever average price and exceeds last month’s average price by 6.9 percent, and the previous highest average price of $627,721 achieved in November last year by 2.9 percent,” said Peter Thompson, Managing Director of Barfoot & Thompson.
“While we expected to see a major lift in the average price between February and March, as it is a trend evident in our sales statistics since 2010, the most critical factor in the price increase was undoubtedly the number of homes that sold for in excess of $1 million.
“186, or 13 percent of all our sales, were for more than $1 million, whereas the percentage last year was 8.5 percent of sales.
“This is the highest number of sales in excess of $1 million we have ever sold in a month, with the highest concentration of sales being in the eastern and central Auckland areas, and along the North Shore beach suburbs.
“A higher-than-normal number of sales at the top end of the market does have a significant impact on the average price, and the same influence was felt when our previous highest average price was established in November, when we sold 146 homes for more than $1 million.
“We experienced an exceptional month’s trading in March, and we sold a total of 1430 homes in the month, our highest number in a month for nearly 10 years.
“While there was a great deal of focus on top-end homes, market activity was also strong in the under $500,000 price category where we sold a total of 550 homes, making up 38.5 percent of total sales.
“New listings during March at 1476 were solid, but down 15.8 percent on those in February and down 4 percent on those for last March.
“The level of new listings combined with high March sales saw available listings at month end at 3721, down 6.7 percent on those at the end of February and down 22 percent on those last March.
“It is the second lowest number of listings at a month’s end for more than a decade, and is yet another sign of the acute shortage of property available for sale in Auckland.”
via: Peter Thompson