Barfoot & Thompson managing director Peter Thompson said today the Auckland housing market had enjoyed its strongest July sales performance for 5 years, rather than being tempered by medium-term economic concerns or the approach of a general election.
“While anecdotal market information suggested that July trading was going to be strong, the extent of activity will have caught most forecasters by surprise,” Mr Thompson said.
“Demand was so strong that you have to go back to the height of the last property sales cycle to see turnover & values of equivalent levels.
“Normally, as we approach a general election, the market goes a little quiet as buyers take a ‘wait & see’ approach, but even this event is not holding back activity.
“In July the market built on the unexpected lift following the lifting of pre-covid-19 restrictions, and we sold 1095 properties. This is a level of sales normally only seen at the height of the summer sales season and is only one property less than we sold in March, which was prior to the onset of Covid-19.
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Attribution: Agency release.