October produces record average sale price

Media Release

October produces record average sale price

Auckland’s average sale price has broken the $500,000 barrier for the first time according to the latest monthly sales statistics from Barfoot & Thompson.

The company sold 978 properties for an average price of $502,297, pushing the average sale above the half million dollar mark for the first time in the company’s 83 year history.

Director Peter Thompson says, “Spring has seen a huge increase in activity in the property market and that’s being reflected in higher prices.”

“There’s been a noticeable increase in buyer enquiry over the past month and a corresponding increase in the number of potential buyers registering for our up coming auctions.”

“The busy market is being experienced across all price ranges but there is particularly high demand at the top end with a quarter of all our sales being for $750,000 or above, and a record 16.7 percent of sales topping the million dollar mark.”

Barfoot & Thompson also signed up an impressive 1,823 new listings during the month (compared to 1,375 in September) demonstrating that vendors are very confident about taking their properties to the market.

“Vendors are clearly being rewarded with top prices for their properties and the most pressing problem now is continuing to attract more high quality new listings to keep up with buyer interest. Certainly this is a great time for new vendors to consider bringing their properties to the market.”

ENDS

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