QV data out today shows the severity of Auckland's housing market slump
Latest house sale figures from Auckland's biggest real estate agency, Barfoot & Thompson, showed big price increases including a $40,000 price leap in just a month.
Barfoot's August average sale price of $918,926 shot to $928,213 last month while its median rose by $40,000 in just a month, from August's$820,000 to September's $860,000.
The data conflicts with QV data out today showing a 0.6 per cent value drop in Auckland in the latest quarter and an annual rise of only 0.8 per cent.
Peter Thompson, Barfoot managing director, said the price rises were due to more expensive properties selling lately.
"A contributing factor to prices edging higher in September was that two thirds of all sales were of properties for in excess of $750,000, with 38.6 percent reaching a sale price of in excess of $1 million," he said.
"Properties in the higher price brackets tend to be less affected by uncertainty about potential future price movements. September's average and median prices are marginally higher than what they were in September 2016," he said.
"With the general election out of the way and a future Government likely to be confirmed by mid October, the normal spring lift in new listings for sales pre Christmas and greater sales activity is likely to return to the market by early November.
"New listings for the month at 1414 were solid, being 12.2 percent higher than in August and at month end total listings were 3829, down 4.1 percent on those at the end of August.
