Auckland Property Prices
13th Apr, 2018
About Auckland’s Huge House Price in March While the Industry Remains Mute.
It seems Auckland Property Prices are finally recovering from the infamous slump that clouded the first days of the year. After an eventful start of the year, the number of property sales in Auckland finally reached 1,000.
According to Barfoot & Thompson‘s MD, Peter Thompson, it was only until last month that the super city realised mega residential property sales, what it had not achieved since the past year. But he admits this phenomenon is no surprise to their company.
The average and median prices, according to the realtor, was ‘significantly higher” compared to that of January and February 2018. But the reason for this occurrence not being a surprise is because March sales are traditionally better compared to the two months when buyers are recuperating from massive spending during the frenetic holiday period.
$700,000 prices and below is a focus for first timers buyers, and that is evident at open homes. Vendor’s expectations are paramount realistic although higher council CV’s have given out more top hope ever.
There are also determining signs or factors such as bright-line test and the proposed changes to the Over Seas Investors policy to prohibit people from other countries as they influence the market.
The Future of Auckland Property Prices
It is possible that property market will continue to move along at a similar speed for the next coming months. Thus, the real estate company founds the average sale for March to be about $931,292 per every three Auckland properties.
It was up about 1.3 percent equated to February’s average but still down to 3.8 percent on the average for March last year. Hence median sale price was about $ 860,000, up to 4.9 percent in February but also it went down to 4.4 percent matched to the median a year earlier.
According to ASB economists, the addition of Auckland houses sold in March was the lowest ever sales since the year of 2010.They also express that with more houses to select from potential buyers appearing to remain watchful, there will be a little rising pressure on Auckland property prices shortly.
They were less new listings but at least more available listings at the end of the month .as the most important figures were the number of sales was the highest of sales in a month since March last year. Again Barfoot and Thompson figure that first time for 12 months that monthly deals have been 1000 and above.
According to Thompson, rural and lifestyle properties also have got in on the recent rise hence reaching a total of $80m sales in March.
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