Auckland residential property prices remained rock solid in September even though sales numbers fell to levels not seen in the month of September for seven years.

“Sellers were prepared to accept prices at close to what have prevailed for the past six months, but have been declining low offers,” said Peter Thompson, Managing Director of Barfoot & Thompson.

“The over riding sentiment of sellers was that the fundamentals that have driven the market for the past two years have not changed, and that prices are not likely to fall significantly.

September 2017 housing market update

Time periodNumber of sales*Total value of sales
September 2017658 properties$610,764,497
September 20161051 properties$966,762,081
12 months to September 20179418 properties$8,792,762,624
12 months to September 201612346 properties$10,799,778,204