Slowdown in top brackets cuts average

Wednesday 13 October 2004

A slowdown in the top price brackets cut Barfoot & Thompson’s average house sale price by 3.3% in September – by $14,000 to $414,164.

By The Landlord

B&T director Peter Thompson said the falls in all brackets over $½ million brought the average down, not a general market decline.

The firm makes about one in every 3 Auckland residential property sales, and sold 918 properties in September. That’s down from 965 in September and 994 in June, but up on 887 in July.

Mr Thompson said the proportion over $500,000 fell from 42% in August to 37% in September. “When you break it down further, 19% of properties sold were for more than $750,000 compared to 23% the previous month and the proportion of million dollar sales dropped from 15 % to 11%.”

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