Auckland house prices


PHOTO: Figures show the mean asking price for a house in Auckland dropped $100,000 to below $900,000 in April, the lowest since 2016. Photo: 123rf

House prices have cooled off significantly in Auckland but are yet to drop to a level where homeowners could find themselves saddled with more debt than their properties are worth.

It’s a buyer’s market in the city – figures show the average asking price is down almost $100,000 since a high three years ago.

It was a slow day in the auction room at one of Auckland’s busiest residential realtors, with homes passing in and sellers negotiating down asking prices. Only two of 12 homes sold under the hammer at Barfoot and Thompson’s auction today, with another two selling soon after.

Director Kiri Barfoot said more than half its homes going to auction were selling afterwards, but there was buyer interest in the housing market.