Anne Gibson

Property editor of the NZ Herald

Auckland house sales fall

Photo / Chris Gorman
Photo / Chris Gorman

Auckland's biggest real estate agency, Barfoot & Thompson, said their house sale volumes fell in June and July and it blamed winter and the election.

Prices are still rising, although they are still not back at March levels.

"For the second consecutive month the number of homes sold in Auckland fell, prices remained stable while at the end of July the number of listings was at a 7-month low," a statement from Barfoots this morning said.

Peter Thompson, Barfoot managing director, said the average sales price in July reached $719,312, less than a 1 per cent increase over June's average price. Sales values over the past four months have been moving around after reaching an all-time high of $725,708 in March.

"In April and May they edged down, and while they recovered some lost ground in June and again in July, prices have certainly not returned to those being achieved in March.

"Prices at present are best described as steady," he said.

ASB chief economist Nick Tuffley said the figures continue to slow down over time show that supplies of homes for sale are tight and still not far above the recent low.

"We expect that price growth in the Auckland region will continue to moderate gradually. The demand/supply balance is shifting, just not particularly quickly," Tuffley said in a note.

BARFOOT AVERAGE HOUSE SALES PRICE THIS YEAR

• January $647,207
• February $678,533
• March $725,708
• April $708,603
• May $702,966
• June $714,054
• July $719,312

- NZ Herald

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