Auckland house prices slip from record in April

Report from BusinessDesk
Average house prices in Auckland fell from a record high last month, snapping a three-month advance, as more properties came to market, according to Barfoot & Thomspon, the city’s biggest realtor.

The average sale price fell about 0.5 percent to $643,089, having reached a record $645,928 in March, the firm said. The median price dipped 2.4 percent to $566,000

The number of new listings in April rose 3.8 percent from March to 1,532 and was up 21 percent from April 2012.

Barfoot sold 1,062 properties in April, the highest for that month in 11 years but still down by about a quarter from March. Some 40 percent of all the sales in April were for under $500,000. There were 103 properties sold for in excess of a million dollars.

At month end Barfoot & Thompson had 3,467 properties on its books, its second lowest number in more than a decade and down 6.8 percent on the number at the end of March, the firm said.

Real Estate Institute figures this month showed the number of New Zealand house sales rose to a six-year high in April and prices touched a new record as Auckland.

The national median price rose an annual 8.1 percent to $400,000, the first time it’s broken the $400,000 mark. About 90 percent of the increase in the median price has come from Auckland and Canterbury over the past year.

(BusinessDesk)

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