Barfoot & Thompson managing director Peter Thompson said this week the average price for the agency’s home sales in September was marginally up on August, while the median was marginally down.
New listings were up 28.4% on August and 21% on last September, but Mr Thompson said the increased availability of stock had no impact on price stability.
The average price was up $6000 on the previous 3 months at $929,757 and the median was up $15,000 at $835,000: “The price point at which vendors & buyers are agreeing has barely moved in the past 9 months. The number of property sales in September, at 722, was modest but vendors & buyers will take confidence in the stability of the prices achieved, and this will assist sales numbers as we advance into spring.
“The standout feature of the month’s data was the high number of new listings, which at 1709 was the second highest ever for a September and more than 20% higher than at the same time last year. It is more than 42% higher than the monthly average for the previous 3 months.
“The high number of new listings significantly increased available choice during the month and, at month end, the number of properties on our books was 4515. You need to go back 7 years to find a September when available listings were higher.
“More than 30 percent of all the sales in the month were of properties that fetched a sales price of more than $1 million, with 3% of that number selling for $2 million or more.
“Properties with a sales price of less than $500,000 accounted for 9% of all sales.”
Mr Thompson said sales of lifestyle properties increased markedly north & south of Auckland, at an average $1.36 million.
|September||August||Previous 3 months, average||September 2017|
|Month-end available stock|
Attribution: Agency release.