Barfoot reports highest August listings for 4 years

Article – BusinessDesk
Auckland realtor Barfoot & Thompson reported its highest listings for the month of August in four years while the average price held near record levels.

Auckland’s biggest real estate agency said listings rose 9.4 percent to 1,414 in August. The average price rose “less than $1,000” to $592,395.

The number of houses sold rose to 1,016 last month from 998 in July. That’s the third time this year the firms sold more than 1,000 homes in a month. Over the past four years the real estate only sold over 1,000 homes on one other occasion in March 2011.

“While prices are significantly ahead of those for the same period last year, the demand for property through the winter months meant that the traditional dip in values did not occur,” managing director Peter Thompson said in a statement. “These sales figures are a reflection of people’s growing confidence across all price segments in the future of the Auckland economy, and the future direction of the Auckland housing market.”

“The next three months normally represent the peak season in the year for house sales, and all the indications are that the current level of activity will be maintained through till Christmas,” he said.

The firm sold 83 homes valued at more than $1 million in August. It has sold an average of 71 million dollar-plus homes in each of the past eight months, up from 47 in the same period a year earlier.

(BusinessDesk)

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