Property

Spring no saviour for Auckland house sales: Barfoot

Auckland house sales failed to blossom in September's sunnier weather, with fewer than 700 sales for the fourth straight month, although prices rebounded after falling a month earlier.

Tuesday, October 05th 2010

The number of sales slumped 25% to 689 in September compared to the same month a year earlier and rose 8.1% from August, according to Barfoot & Thompson, Auckland's biggest real estate firm.

The average sale price rose 1.7% to $523,861 from a year ago, and was up 2.5% month-on-month.

"While prices have moved on the back of the return of spring, sales remain quiet," managing director Peter Thompson said.

The property market hit the doldrums this year after returning expatriates and an inflow of new migrants stoked demand for housing amid a shortage of supply. Since then, the market has been lacklustre as Australia's economy dodged recession and encouraged kiwis to cross the Tasman, while households have focused on repaying debt.

Barfoot said it added 1,203 new listings to its books, up 11% from August, though 18% short of September last year. At the end of September, the agent had 5,572 homes on its books, 1% fewer than in August, and 6% more than a year earlier.

The firms' rentals achieved an average weekly rent of $407, up $1 from a month earlier, and $23 more than the same month a year ago. It boosted the number of rentals 2.3% to 717 properties from a year ago, but was down 1.5% month-on-month.

Heartland Bank - Online 6.69
SBS FirstHome Combo 6.74
Wairarapa Building Society 6.95
Unity 6.99
Co-operative Bank - First Home Special 7.04
ICBC 7.05
China Construction Bank 7.09
BNZ - Classic 7.24
ASB Bank 7.24
ANZ Special 7.24
TSB Special 7.24
Unity First Home Buyer special 6.45
Heartland Bank - Online 6.45
China Construction Bank 6.75
TSB Special 6.75
ICBC 6.75
ANZ Special 6.79
ASB Bank 6.79
AIA - Go Home Loans 6.79
Kiwibank Special 6.79
BNZ - Classic 6.79
Unity 6.79
Westpac Special 6.39
China Construction Bank 6.40
ICBC 6.49
SBS Bank Special 6.55
Kiwibank Special 6.55
BNZ - Classic 6.55
Co-operative Bank - Owner Occ 6.55
ASB Bank 6.55
AIA - Go Home Loans 6.55
TSB Special 6.59
Kainga Ora 6.99
SBS FirstHome Combo 6.19
AIA - Back My Build 6.19
ANZ Blueprint to Build 7.39
Credit Union Auckland 7.70
ICBC 7.85
Heartland Bank - Online 7.99
Pepper Money Essential 8.29
Co-operative Bank - Owner Occ 8.40
Co-operative Bank - Standard 8.40
First Credit Union Standard 8.50
Kiwibank 8.50

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