Property market ‘boom time is over’

Auckland’s property market should get used to a new normal with less house price growth, more competition in properties for sale and tougher times for real estate agents, one commentator says.

Auckland real estate agency Barfoot & Thompson has released its latest data which shows sales numbers fell to levels not seen in a September month in seven years.

Peter Thompson, managing director, said sellers were declining low offers, so prices were holding firm, at an average $928,213.


David Whitburn says there won’t be much price growth over the next couple of years.