Auckland property market stays on trend during June

Peter Thompson, Managing Director

Prices edged up slightly in Auckland’s residential property market in June, while the number of sales and listings were consistent with the same period last year.

Peter Thompson, Managing Director of Barfoot & Thompson said the average sales price during June was $908,343, an increase of 3.9 percent on May and 4.2 percent on the average price over the previous three months. This follows very little change in the average prices of April and May.

The median price for June was $839,500, an increase of 3.7 percent on the previous month.

“The moderate increases in the average sales and median prices are a measure of a very tight supply situation. At the same time it demonstrates that residential purchasers are maintaining a level head in terms of the value they see in the properties on offer. These are signs that vendors are similarly realistic, even in a constrained market,” commented Mr Thompson.

READ MORE VIA BARFOOT & THOMPSON

Time periodNumber of sales*Total value of sales
June 20161,168 properties$1,060,945,308
June 20151,167 properties$964,495,239
12 months to June 201613,318 properties$11,289,489,034
12 months to June 201512,796 properties$9,752,871,926