August 2017 housing market update

Time periodNumber of sales*Total value of sales
August 2017777 properties$714,005,788
August 20161,003 properties$909,279,894
12 months to August 20179,811 properties$9,148,760,208
12 months to August 201612,653 properties$10,868,678,901

Realism dominates Auckland residential property market

Peter Thompson

The sentiment dominating housing activity in Auckland during August was ‘realism’ on the part of both buyers and sellers.

“For the past six months there have been only minor variations in the pattern of lower sales numbers and prices remaining firm,” said Peter Thompson, Managing Director of Barfoot & Thompson.

“In August both the average sales price at $918,926 and median price at $820,000 increased over that for July, but both were down on the average for the previous three months.

“The reality of the situation is that prices are remaining stable, and sales numbers are running at two thirds of where they were 12 months ago.

“Buyers and sellers who accept that reality and are prepared to buy or sell at market are the ones achieving the outcomes they are seeking.


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