May 2016 housing market update

Time period Number of sales* Total value of sales
May 2016 1,306 properties $1,142,258,583
May 2015 1,225 properties $1,007,131,530
12 months to May 2016 13,317 properties $11,193,038,965
12 months to May 2015 12,666 properties $9,528,791,048

*Includes Barfoot & Thompson Auckland residential sales that have gone unconditional. Excludes Northland and commercial sales.

Average Auckland property price static, median price falls

Peter Thompson, Managing Director

Auckland residential property prices have lost their upward momentum.

“The average sales price has remained static for two months now,” said Peter Thompson, Managing Director of Barfoot & Thompson.

“In May, the average price of $874,623 increased by just over $1000 over that for April, while April’s average price increased by less than $7,000 over that for March.”

“The average price in May compared to that for the previous three months is up only 2.4 percent, and the year-on-year increase for May was up only 6.4 percent.

“This is well down on the 12 percent increase we saw in the 2015 calendar year.

“We have now had five months of trading since the all-time high average price of $876,075 was set.