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!
Auckland Property Prices Hold Steady In June
For the third consecutive month the average Auckland house price showed little movement, with June’s average price reaching $649,945, an increase of a little over $5000 on the average price during May.
“This is less than a 1 percent increase on May’s average price, and since March the average price has risen by only $4017,” said Peter Thomson, Managing Director of Barfoot & Thompson.
“While the average sales price points to relative stability, the median selling price has shown a modest increase, which at $590,000 for June is $20,000 higher than in May and is $10,000 higher than in March.
“While house values are moving in a tight band at present, the number of properties on the market has shrunk to an all-time low.
“Demand for properties is unprecedented and competition is intense with homes selling within a tighter time frame than at any time in the last decade
“However, this competition for properties has so far not led to prices breaking through the price ceiling established in March.
“In June we listed only 1189 properties, while our sales for the month numbered 1059.
“This is the closest we have come to selling the same number of properties as we have listed in a month in the past 11 years.
“At the end of June we had only 2873 properties on our books, the first time our end of month listings have dipped below 3000 properties in the past 11 years.
“Listings in June were 5.3 percent lower than the number of listings in May, and 29.5 percent lower than in June last year.”
During June Barfoot & Thompson sold 380 homes for less than $500,000, and a further 373 for between $500,000 and $750,000.
A total of 144 homes sold for in excess of $1 million, the same number as in May.
Property sales at 1059 for June was the fourth consecutive month that sales were in excess of 1000 for the month. The last time sales were this consistently high was 9 years ago in the first half of 2004.
via: Peter Thompson
Our new ‘Around & About’ brochure is out and there are some awesome upgrades for those who start their advertising campaign with us between the months of July & August. We are a friendly, professional team so if you have any questions or would like to list with us, give us a call so we can help make the sale of your home successful and effective!
Barfoot & Thompson Greenlane
255A Great South Road, Greenlane 1051
09 523 1189
Did anyone catch the Blues vs Chiefs at Eden Park over the weekend? Hard luck to the Auckland Blues who were defeated 26-16. Heads up and we look forward to supporting the team during the next home game!
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