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Prices on hold as listings fall

Wednesday 6th of January 2016

Barfoot & Thompson reported an average sales price in December of $869,492, down 0.8% on November. The median price was $800,000, up 0.6%. 

But the 796 sales done by the agency's salespeople were 19.3% down on November and the lowest number in any December month in four years.

There were 757 new listings in the month and Barfoot & Thompson finished the year with 2431 properties on its books, the lowest number for any month in 20 years.

Managing director Peter Thompson said: “The factor most likely to impact on January sales was the extremely low number of listing at the end of December which, at 2431, was down 25.2% on those in November, and the lowest number for any month for more than 20 years. With a growing population and the number of new builds failing to keep pace with demand, competition for properties is likely to remain strong in the first quarter of 2016.

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Latest Comments
FMA outlines its latest expectations for advisers
Paul Flood: The danger is that the 'goalposts' (regarding what is acceptable or unacceptable adviser conduct) may be susceptible to change. Our 'Principles based' legal/regulatory environment lends itself to “prevalence-induced concept change” over time, perhaps not so much in the written laws and Code, as in the interpretation of the prescribed principles.
2 days ago Steve Wright
FMA outlines its latest expectations for advisers
Just a tip, if you use more than six, six letter words in a sentence you lose most Kiwi's. So avoid client/adviser confusion when writing your post or article if you would like it read and understood. Ironically, my last sentence was not likely read.
3 days ago Backstage
FMA outlines its latest expectations for advisers
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5 days ago Jon-Paul Hale
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5 days ago Jon-Paul Hale
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To correct errors in my previous post: "policies, templates, and controls" should read "policies, processes, systems and controls", and "is more conductive" should read "is more conducive".
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