Auckland property market stable in June

The company sold 1,000 residential properties across the region last month for an average sales price of $537,671. This was down from the May average of $557,546, but general manager Wendy Alexander says the winter months are always a time for consolidation in residential property sales, as vendors tend to hold off listing their properties for sale until spring.

“May was a particularly busy and successful month for the company, so the June result is probably more in line with normal winter time activity.”

Alexander says, “There is a steady level of activity in the market – on par with the patterns seen in previous years. Every month so far during 2007 has produced a higher number of sales than the corresponding month last year”.

Barfoot & Thompson’s property management division also experienced a steady month with 586 new lettings. The average weekly rental during June of $373 is the second highest so far this year.