Auckland property sales boom in December - Barfoots

Barfoot and Thompson sold 859 Auckland properties in January compared to November's frenetic 1105 sales and December's busy 1050 sales. Photo / Janna Dixon

Auckland's biggest real estate agency, Barfoot & Thompson, has recorded the busiest December in a decade due to a 28.5 per cent sales volume lift.

But the sector is suffering a severe dearth of listings.

Peter Thompson, managing director of the family-owned business, said sales in Auckland were the strongest they had been in a December for the past decade, with sales numbers up significantly, prices reaching all-time highs, and the number of available listings reaching an all-time low.

The Auckland average sales price was now $758,891.

"Even though December was the shortest selling month of the year, we sold 1050 properties, our fourth busiest month of the year. Sales in December were 28.5 per cent higher than in December 2013," he said.

"At the same time, the number of properties on our books at the end of December was 2500, our lowest number for any month end in the past 10 years.

"For us, this represents less than two months' stock and indicates that in the first quarter of this year, buyer choice will remain severely limited.

"In part, December's strong activity was a flow over from October and November, which were catch-up months following a relatively low period of activity during September caused by the General Election.

"Although the year ended with record prices and sales activity, overall prices in 2014 rose slower than they did in 2013.

"The average price increased by 10.3 per cent in 2014, compared to 11.1 per cent in 2013 while the median price increased by 11.1 per cent compared to 12.7 per cent.

"The past two years of strong price growth is reflected in the significant change in sales volumes in both the higher and lower price segments of the market.

"In 2014 29.5 per cent of all homes sold for under $500,000. A year earlier, 38.6 per cent of all sales were in this price category.

"The same trend is found at the top end of the market, with sales of homes in the $1 million and above category in 2014 representing 17.2 per cent of all sales. A year earlier it was 12.4 per cent."

See the full Barfoot's release here:

2014 average Auckland house prices.

• January - $647,207
• February - $678,533
• March - $725,708
• April - $708,603
• May - $702,966
• June - $714,054
• July - $719,312
• August - $711,768
• September - $738,876
• October - $736,238
• November - $756,909
• December - $758,891

Source: Barfoot & Thompson