July 5, 2016
June data statement
Auckland property market stays on trend during June
Prices edged up slightly in Auckland’s residential property market in June, while the number of sales and listings were
consistent with the same period last year.
Peter Thompson, Managing Director of Barfoot & Thompson said the average sales price during June was $908,343, an increase of 3.9 percent on May and 4.2 percent on
the average price over the previous three months. This follows very little change in the average prices of April and
May.
The median price for June was $839,500, an increase of 3.7 percent on the previous month.
“The moderate increases in the average sales and median prices are a measure of a very tight supply situation. At the
same time it demonstrates that residential purchasers are maintaining a level head in terms of the value they see in the
properties on offer. These are signs that vendors are similarly realistic, even in a constrained market,” commented Mr
Thompson.
“During the first six-months of 2016 we have seen an 11.9 percent increase in the average house price across the city,
and the June year-on-year increase is now 9.9 percent.
“The number of new listings (1170) and volume of sales (1168) were a marginal increase on last year’s record figures for
the same period. However, June continued to conform to seasonal norms with numbers of new listings down 7 percent and
sales numbers down 10 percent when compared to May’s data.
“At month end we had 2936 properties on our books, which is marginally lower (2.6 percent) than the previous month’s
3013.
“Just under half of all the properties sold in June (446) sold for in excess of $1 million, with just 67 selling for
less than $500,000.”
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