Barfoot Auckland property sales lift in January

Friday 3rd February 2012

Auckland’s January residential house sales were the strongest they’ve been in four years, according to Barfoot & Thompson.

The real estate company sells a third of Auckland’s homes, and sold 683 properties last month, up almost 22% on January 2011. The average sales price increased 2.7% on a year ago to just under $530,000 and new listings have lifted 15% or 1,031, to total 4,766.

“The seasonal dip in activity that occurs each year as a result of the Christmas, New Year and annual holiday breaks was present in the trading figures, but on every key measure this January was significantly ahead of that for January last year,” said B&T managing director, Peter Thompson.

The market is experiencing a continued limited choice of houses for sale he said, though not necessary in the $1 million plus market. B&T had its best January since 2007 in this segment, with 40 being sold.

Thompson said the first quarter of 2012 will probably see a continuation of the latter half of 2011, which saw gradual and modest increases in prices. He expects B&T to continue to sell between 700-900 properties a month.

(BusinessDesk)

BusinessDesk.co.nz

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