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Auckland market 'totally different'

Listings down and sales numbers restrained, Barfoot & Thompson says.

Wednesday, October 5th 2016, 12:00AM

by The Landlord

Spring has not yet sprung for Auckland’s housing market, new data from Barfoot & Thompson confirms.

The Auckland real estate agency said the combination of tighter mortgage lending restrictions and the perception that property was fully-priced were slowing housing activity.

“In September new listings were down, and sales numbers and prices were restrained,” said Peter Thompson, managing director.

“With the arrival of spring, housing activity normally lifts, but it has not been the case this year. Rather the market continued the trend which first showed in July of prices increasing at a much slower rate that in the past two to three years. While in September the average price increased, compared to August, the median price actually stayed constant,” he said.

The agency’s average sales price was $919,849, 1.5% up on August but up only 2.9% on the previous three months.

The median price, $850,000 was the same as August and up only 0.8% over the previous three months.

“Compared to what was happening to prices last September the Auckland housing market is subdued and we are now looking at a totally different market to 12 months ago. Sales for September at 1051 were up 4.8% on those for August but down 2% on the average for the previous three months,” Thompson said.

“New listings at 1536 are down 10% on those for August, and are down 6% on those for the previous three months and down 20.8% on September last year.”

At the end of the month, the agency had 3060 properties on its books, down 2.9% on August.

High end sales were unaffected by the more restrained market. The agency reported 403 properties, or 38.3%  of properties sold, going for more than $1 million.

« No spring lift for property market: Realestate.co.nzLVRs starting to bite - REINZ »

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Lender Flt 1yr 2yr 3yr
ANZ 5.19 4.05 3.95 4.49
ANZ Special - 3.55 3.45 3.99
ASB Bank 5.20 4.05 3.95 4.39
ASB Bank Special - 3.55 3.45 3.89
BNZ - Classic - 3.55 3.45 3.99
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 6.15 4.95 4.95 -
Credit Union North 6.45 - - -
Credit Union South 6.45 - - -
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 4.80 4.95 -
HSBC Premier 5.24 3.35 3.35 3.35
HSBC Premier LVR > 80% - - - -
Lender Flt 1yr 2yr 3yr
HSBC Special - - - -
ICBC 5.15 3.18 3.18 3.20
Kainga Ora 5.18 4.04 3.95 4.39
Kiwibank 5.80 ▼4.14 ▲4.30 4.64
Kiwibank - Capped - - - -
Kiwibank - Offset 5.15 - - -
Kiwibank Special - ▼3.39 ▲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 4.86 3.89 3.94
RESIMAC Special - - - -
SBS Bank 5.29 4.85 5.05 5.49
SBS Bank Special - ▼3.55 3.39 3.89
Sovereign 5.30 4.15 4.29 4.55
Sovereign Special - 3.65 3.75 4.05
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 4.35 4.25 4.69
Lender Flt 1yr 2yr 3yr
TSB Special 5.29 3.55 3.45 3.89
Wairarapa Building Society 5.70 4.85 4.99 -
Westpac 5.34 4.15 4.09 4.49
Westpac - Offset 5.34 - - -
Westpac Special - 3.55 3.45 3.99
Median 5.34 4.04 4.09 4.39

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