Barfoot's October sales price set the year's record. Photo / Getty Images
Barfoot's October sales price set the year's record. Photo / Getty Images
Auckland's largest real estate agency says spring's arrival has made the city's house sales market come "alive", with October's average price hitting $937,277 - the highest point this year.
Peter Thompson, Barfoot & Thompson managing director, said that was the top monthly average price for the year but volumes werealso up.
"In comparison with where the market has been for the past nine months, October trading was extremely active. Spring arrived and the market came alive. The average sales price for the month at $937,277 was the highest this year and up 1.5 per cent on the average for the previous three months," he said.
In January, the average sale price was $934,753. By August, it went to $928,266 and $929,757 by September.
Barfoot & Thompson sold 884 properties in October, well down on its 1027 sales in March but also well ahead of its 593 in January this year. This year's October sales figures were the highest in three years, it said.
While October's average sale price set a record for 2018, it is still below those notched up in 2017. The highest average sale price recorded by Barfoot & Thompson was $968,570 in March last year.
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But inventory is up too, with a rising number of unsold properties on the books: "Available property for sale also reached the highest it has been for the past six years with total listings at month end reaching 4848, and new listings for the month hitting 2046, the highest in a month for 19 months," Barfoot said.
Not everyone sees spring is firing up the Auckland market. Quotable Value indicated last week that the warming weather was failing to ignite Auckland's housing values but national values were stronger, up 5.4 per cent annually and 1 per cent in the last quarter, putting the average value at $681,802.
But in Auckland, QV said the trend was flatter.
"Residential property value growth across the Auckland region increased by 1.1 per cent year on year although dropped by 0.3 per cent over the past quarter. The average value for the Auckland region is now $1,049,689," QV said on Thursday last week.
A year ago, Auckland's average value stood at $1,038,722. North Shore values rose 1.4 per cent annually, city area values were up 1.2 per cent and Manukau values rose 1.1 per cent, QV said.
Hugh Robson, QV Auckland property consultant, said last week that listings had moderately increased and overall market activity was steady.
"There is certainly plenty of construction taking place, such as Housing New Zealand and private-sector initiatives. We're continuing to see plenty of apartment-style developments underway, which is helped by the Unitary Plan that many developers are utilising," Robson said.
