Auckland property market produces record result

Wednesday 6 December 2006

Media Release

Auckland property market produces record result for the second month in a row

The Auckland property market is continuing its buoyant run with Barfoot & Thompson’s average sale price of $507,470 setting a new company record for the second month in a row.

Barfoot & Thompson’s average sale price broke the half million dollar mark for the first time in October and November has now exceeded that. Director Peter Thompson says, “We’ve just completed the busiest November since 2003 with total sales of 1,089. This included good activity at the top end of the market with the proportion of the company’s sales worth $1 million or more increasing from 16.7 percent in October to 17.8 percent in November.”

“It’s was notable that our auction team was very busy during November with around 75 properties going under the hammer each week and good clearance rates being achieved.”

“This is a great time for vendors to consider listing their properties for sale as there are plenty of interested buyers currently in the market and a shortage of good quality listings is developing, which in turn is producing good sale prices.”

In light of the busy market and in response to customer demand, all Barfoot & Thompson branches will be operating over the summer holiday period, with the exception of statutory holidays.

“Experience tells us that there will be continued interest in the real estate market over this period and our salespeople will be available to meet that need.”

ENDS

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