Auckland Housing Shrugs Off Winter Onset

July 4, 2018

June Data Statement

The onset of winter had a negligible impact on the Auckland residential property market.

“The sales data for June is a mix of up and down numbers, but overall sales, prices and availability remained stable,” said Peter Thompson, Managing Director of Barfoot & Thompson.

“The average price edged up to $928,842, up 1.1 percent on that for last month, 0.2 percent higher than the average for the previous three months and 1.7 percent higher than in June last year.

“At the same time the median price at $810,000 was down 1.2 percent on last month, down 3.2 percent on the previous three months and down 3.6 percent on that for June 2017.

“It means market prices, which have marked time and came under no pressure to move in one direction or another since the beginning of the year, have entered the winter period in the same state.

“It is a market environment that is likely to remain constant to the start of spring.

“Sales numbers for June at 903 were solid for the start of winter, and while as expected were down on the 1027 sales in May they were 5.6 percent higher than at the same time last year.

“For the first six months of 2018 sales numbers are 6 percent higher than they were for the first six months of 2017, showing market activity is potentially slowly re-emerging.

“New listings at 1210 for the month were modest, and down nearly a quarter on the comparative figure in June last year but listings at month end at 4267 were less than 1 percent lower than those in June last year.

“A feature of the month’s trading was the high number of properties that sold for under $500,000. At 165 it represented 18.3 percent of all sales.

“While some of these sales would be apartments it also represents a high number of stand alone homes being sold on the outer northern, western and southern suburbs of Auckland.

“Sales of homes for $1 million and $2 million remained strong, with a third of all homes falling within these two price categories.

“The rural and lifestyle markets in June was the second most active month this year.

“In the north interest was being shown in orchards, dairy farms and land for kiwi fruit development.

“Interest in lifestyle blocks around Pukekohe increased, as did inquiries around bare land for development.”

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