2006 – A Good Year For Auckland Property Market

The Auckland property market defied the doomsayers in 2006 with the average sale price rising nearly five per cent.

Leading Auckland real estate firm Barfoot & Thompson has today released its annual sales figures for 2006 which show the company’s average sale price rose by 4.8 per cent during the year.  The average sale price for all of 2006 was $480,738. 

The year opened with an average monthly sale price of $428,385 in January and ended with a bumper December which produced an average sale price of $523,793.  All Barfoot & Thompson offices remained open during the holiday period (excluding the statutory holidays) and 204 sales were made compared to 160 for the same period last year.

Barfoot & Thompson sold more than 11,000 properties in Auckland during 2006, the equivalent of around 950 individual sales per month. 

Barfoot & Thompson Director, Peter Thompson, says, “It’s satisfying to see such a positive result for the Auckland property market in the face of some fairly strong negative sentiment from the commentators.  Most commentators were predicting a correction and expected interest rate rises to have more of an affect than they did.”

“Our sales results demonstrate the inherent strength of the Auckland property market and we see those conditions continuing during 2007.”

“We continue to see strong buyer interest in the market and vendors who present their properties well and price them realistically can look forward to achieving good results.”

Mr Thompson says, “All indications are that we can look forward to another busy year for the Auckland property market with Barfoot & Thompson very well placed to meet the continuing vendor and buyer demand.”

ENDS

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