Another record result for property market

Barfoot & Thompson’s average sale price broke the half million-dollar mark for the first time in October and November has now exceeded that.

Director Peter Thompson says, “We’ve just completed the busiest November since 2003, with total sales of 1,089. This included good activity at the top end of the market, with the proportion of the company’s sales worth $1 million or more increasing from 16.7% in October to 17.8% in November”.

“It was notable that our auction team was very busy during November, with around 75 properties going under the hammer each week, and good clearance rates being achieved.”

He says it is a “great time” for vendors to consider listing their properties for sale, as there are “plenty of interested buyers currently in the market and a shortage of good quality listings is developing, which in turn is producing good sale prices”.

Thompson predicts continued interest in the real estate market over the holiday period.