Auckland property market takes a breather

3 May 2007

Auckland property market takes a breather during April

April was a quieter month for the Auckland property according to the latest sales figures from leading Auckland real estate company Barfoot & Thompson.

The average sale price eased by almost 6 per cent, from a high of $564,162 in March to $532,482 in April, although this is still well ahead of both January and February. Total sales for the month (899) were ahead of the same month last year.
Director, Peter Thompson, believes the result is a combination of public holidays, school holidays and interest rate speculation.

“Holidays tend to disrupt the sales cycle. We had Easter, Anzac Day and two weeks of school holidays during the month, as well as a considerable level of anticipation about the recent Official Cash Rate announcement which probably led to a certain level of caution amongst buyers.”

However, Mr Thompson says total weekly sales for the company remained ahead of the same week last year, as they have for every week of 2007 to date.

On the property management front, April is traditionally a quieter month and this year was no different. 548 houses and units were let during April for an average weekly rent of $361. This compares to $338 for the same month last year.

ENDS

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