About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds Other Sites:   tmmonline.nz  |   landlords.co.nz
Last Article Uploaded: Tuesday, November 12th, 7:54PM
rss
Latest Headlines

Auckland sales lowest in 10 years

Property sales in Auckland reached new lows in February while prices were also down, according to Barfoot & Thompson’s latest data.

Monday, March 4th 2019, 10:58AM

by The Landlord

The real estate agency saw 474 sales in February, as compared to 665 in February last year and 653 in January.

That’s a year-on-year drop of 28.7% and a month-on-month drop of 27.4%.

Barfoot & Thompson managing director Peter Thompson says February’s sales numbers were the lowest in a month since December 2008, which was at the high point of the global financial crisis.

“In the first two months of the year, sales numbers at 1,127 are down 10.4% on what they were for the first two months of last year.

“The market has failed to gain any momentum since the holiday break and has made its slowest start to a year in more than a decade.”

But in the last two weeks of February we sold more than 250 properties each week on a signed off basis (unconditional and conditional) which was 47.3% higher than in the first two weeks, he says.

“It underlines that the pipeline of potential sales is beginning to build.

“The market is progressively hardening into a buyers’ market with a number of vendors preferring to take their property off the market when they cannot achieve their asking price.

“This trend can be seen in February’s data, during which we listed an additional 1,563 properties yet at month end we had 4,660 listings on our books, only a 7.5% increase on those for January.”

It wasn’t only sales volumes that were down in February, Barfoot & Thompson’s data shows that both the median sales price and the average sales price declined again.

Auckland’s median price in February was $801,000, which was down by 2.3% on February 2018’s median price of $820,000 and by 3.2% on January’s median price of $827,500.

The region’s average sales price was also down, although not as much. It was $918,496 in February, which was a 0.1% dip on $919,454 in February 2018 and a 0.9% decrease on $927,181 in January.

Thompson says that sales of property in the $1 million to $2 million price category represented 27.8% of total sales while sales in the under $500,000 price category represented 12.7% of sales.

 

Tags: Barfoot & Thompson house prices housing market median price property investment property values sales activity

« Free Investment Property Showcase Events: Auckland, Wellington and ChristchurchRegions driving value growth »

Special Offers

Comments from our readers

No comments yet

Sign In to add your comment

 

print

Printable version  

print

Email to a friend
News Bites
Latest Comments
Subscribe Now

Mortgage Rates Newsletter

Daily Weekly

Previous News

MORE NEWS»

Most Commented On
Mortgage Rates Table

Full Rates Table | Compare Rates

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 4.30 4.20 4.64
Kiwibank - Capped - - - -
Kiwibank - Offset 5.15 - - -
Kiwibank Special - 3.55 3.45 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

Last updated: 11 November 2019 4:01pm

News Quiz

The maximum remuneration model for Australian life insurance advisers is to be set at what?

Upfront 40% + trail 20%

Upfront 50% + trail 10%

Upfront 50% + trail 20%

Upfront 60% + trail 10%

Upfront 60% + trail 20%

MORE QUIZZES »

About Us  |  Advertise  |  Contact Us  |  Terms & Conditions  |  Privacy Policy  |  RSS Feeds  |  Letters  |  Archive  |  Toolbox
 
Site by Web Developer and eyelovedesign.com