Barfoot & Thompson data: Auckland property prices continue to climb

The agency has more than 40 per cent of Auckland sales. Photo / Richard Robinson

Residential property sales volumes by Auckland's largest real estate agency fell last month but prices continued to climb.

Barfoot & Thompson data out today showed sales numbers fell from December's 777 to January's 678.

But the average Auckland residential sale price was $951,631, up on December's $933,259. The median also jumped from December's $839,250 to $885,000 last month.

Peter Thompson, the agency's managing director, said it was a confident start to the year.

He compared January sales volumes in the last few years and found those were up, even though volumes fell from December to January.

"In terms of sale numbers, we sold our highest number of properties in a January in four years, the average price and median prices were up on those for December last year, and new listings were up over the 1000 mark," he said.

"Buyers were active across all price segments and were prepared to pay near record prices. "January's trading confirmed the signs seen in November and December trading, which pointed to the Auckland housing market entering a new growth cycle," Thompson said.

The agency had 3537 Auckland and Northland properties for sale by the end of January. That was a rise in its unsold stock from December when it had 3191 properties on its books.

On average last year, the agency had 4086 properties for sale during any one month in 2019.

On January 16, the Herald reported on Real Estate Institute national house sale volumes in December which hit a three-year high but in Auckland were the highest level in four years, according to Real Estate Institute data out this morning.

Bindi Norwell, REINZ chief executive, said New Zealand rounded off the decade with high volumes as well as price rises in 15 out of 16 regions. Predictions of Auckland's rebound were also being born out, she said.

"Sales in Auckland were the highest for the month of December in four years, with particularly strong uplifts in sales volumes in Papakura District up 65 per cent, the North Shore City up 63 per cent and Waitakere City up 58 per cent," Norwell said.

Thompson said today the number of listings on his agency's books was "the lowest they have been at the start of a year in four years and given the level of interest being shown by buyers, now represents an excellent time for owners to list."