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Auckland sales down, listings and prices up

The arrival of spring has seen a modest increase in interest in the Auckland housing market with more homes listed, the average price edging up though the number of sales fell slightly.

Friday, November 4th 2011, 12:00AM

by The Landlord

"The housing market in October followed a similar pattern to that we have seen for the past four months, and we remain in a relatively stable period in terms of prices and activity," said Barfoot & Thompson managing director Peter Barfoot.

"The feature that was different was the number of new homes listed for the month. At 1314, this was an increase of 4% on that for last month and the highest number of homes listed since March.

"It created greater choice and raised buyer interest."

Thompson said that in October prices rose by 1.1% on September, with the average price climbing to $553,765.

"As for much of this year, this average price was affected by the strong interest in the high end of the market, and in October we sold 60 homes with a value in excess of $1 million."

He said that over the past two years sales of $1 million-plus homes had exceeded that number on only three occasions.

Over October Barfoot & Thompson sold 727 homes, down 1.5% on September but 29.6% more than in October 2010.

"Far more homes are selling this year than last, but for the past three months sales numbers have been marking time, with the movement between the high and low numbers in that period being 31 homes," Thompson said.

"We expect the current stability in process and sales volumes to remain through to the end of the year."

At the end of October Barfoot & Thompson had a total of 4999 listings, 4.2% more than at the end of September, and the highest number since June.

« October sales rise but enquiries hit by RWC, holidays and Greek tragedyInvestors still active in capital, Hutt Valley, muted elsewhere »

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Lender Flt 1yr 2yr 3yr
ANZ 5.19 4.05 4.05 4.49
ANZ Special - 3.55 3.55 3.99
ASB Bank 5.20 3.89 4.05 4.39
ASB Bank Special - 3.39 3.55 3.89
BNZ - Classic - 3.49 3.55 3.89
BNZ - Mortgage One 5.90 - - -
BNZ - Rapid Repay 5.35 - - -
BNZ - Std, FlyBuys 5.30 4.45 4.35 4.55
BNZ - TotalMoney 5.30 - - -
China Construction Bank 5.50 4.70 4.80 4.95
China Construction Bank Special - 3.19 3.19 3.19
Lender Flt 1yr 2yr 3yr
Credit Union Auckland 5.95 - - -
Credit Union Baywide 5.65 4.75 4.75 -
Credit Union North 6.45 - - -
Credit Union South 5.65 4.75 4.75 -
Finance Direct - - - -
First Credit Union 5.85 3.99 4.49 -
Heartland 6.70 7.00 7.25 7.85
Heartland Bank - Online - - - -
Heretaunga Building Society 5.75 ▼4.65 ▼4.80 -
HSBC Premier 5.24 3.54 3.54 3.69
HSBC Premier LVR > 80% - - - -
Lender Flt 1yr 2yr 3yr
HSBC Special - - - -
ICBC 5.15 3.18 3.18 3.20
Kainga Ora 5.18 3.97 4.05 4.39
Kiwibank ▼5.15 4.20 4.30 4.64
Kiwibank - Capped - - - -
Kiwibank - Offset 5.15 - - -
Kiwibank Special - 3.45 3.55 3.89
Liberty 5.69 - - -
Napier Building Society - - - -
Nelson Building Society 5.70 4.25 4.15 -
Pepper Money Near Prime 5.64 - 5.44 5.44
Lender Flt 1yr 2yr 3yr
Pepper Money Prime 5.18 - 4.98 4.98
Pepper Money Specialist 7.59 - 7.39 7.39
Resimac 4.50 ▼4.45 3.89 3.94
RESIMAC Special - - - -
SBS Bank 5.29 4.85 5.05 5.49
SBS Bank Special - 3.39 ▲3.55 3.89
Sovereign 5.30 3.89 4.05 4.39
Sovereign Special - 3.39 3.55 3.89
The Co-operative Bank - Owner Occ 5.15 3.49 3.59 3.89
The Co-operative Bank - Standard 5.15 3.99 4.09 4.39
TSB Bank 6.09 4.19 4.35 4.69
Lender Flt 1yr 2yr 3yr
TSB Special 5.29 3.39 3.55 3.89
Wairarapa Building Society ▼5.50 ▼3.95 ▼4.05 -
Westpac 5.34 4.15 4.09 4.49
Westpac - Offset 5.34 - - -
Westpac Special - 3.39 3.55 3.99
Median 5.34 3.97 4.05 4.39

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