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Million-dollar sales pick up


Houses selling for more than $1 million have pushed Auckland’s average sales price to a record $645,928 for March, Barfoot and Thompson reports.

That is 6.9% up on February.

Managing director Peter Thompson said there was an abnormally high number of million-dollar sales in March.

He said 186, or 13% of all Barfoot and Thompson sales, were for more than $1 million, up from just 8.5% a year earlier.

“This is the highest number of sales in excess of $1 million we have ever sold in a month, with the highest concentration of sales being in the eastern and central Auckland areas, and along the North Shore beach suburbs.”

The agency sold 1430 homes in the month, the highest monthly total in almost a decade.

“While there was a great deal of focus on top-end homes, market activity was also strong in the under $500,000 price category where we sold a total of 550 homes, making up 38.5 percent of total sales.”

The heat is likely to stay on prices – the agency reported 15.8% fewer listings in March than in February, and 4% fewer than the same time last.

Thompson said: “It is the second-lowest number of listings at a month’s end for more than a decade, and is yet another sign of the acute shortage of property available for sale in Auckland.”

Tags: peter thompson

Source: Landlords.co.nz