Busy March for agents: Barfoot

There were 1392 residential sales written by its offices, up 80% from February and down 2.7% from the same time the year before.

The agency reported a 7% increase in prices in March compared to February and the average house price reached $725,708. The median price of properties sold by Barfoot and Thompson agents for the month was $652,000.

Sales of homes over $1 million represented 35% of the agency’s turnover.

Barfoot and Thompson chief executive  Wendy Alexander said: “March is traditionally the busiest month in the property calendar, so it is no surprise that we saw a significant increase in residential sales when compared to the previous month.  Demand for property across the wider Auckland region remains strong, and will continue to do so for the foreseeable future.

“New listings for the month were the highest in any March for six years, and there is a wide range of properties coming through on our listings.   While there remains a large number of buyers coming into the market, there was also more choice.  Properties are selling quickly because they are priced sensibly to meet the market.”

Just under 20% of homes sold in March were under $500,000.

Westpac's economists said the data seemed to indicate that the peak impact of the LVR limits was passing.