Scoop has an Ethical Paywall
Auckland Housing Market Records Traditional Quiet Start To Year
The Auckland housing market experienced a quiet month’s trading in February, mirroring January’s prices and sales numbers.
“February’s trading was typical of what we have experienced over the past three years at the start of the year,” said Peter Thompson, Managing Director of Barfoot & Thompson.
“Prices remained there or thereabouts with where they were in January, as was the number of sales made.
“February’s sales are heavily dependent on the activity which took place during January’s holiday period, and it will not be until March that any uplift attributable to recent declines in mortgage interest rates are likely to influence sales activity.
“February’s sales at 685 for the month were the highest we have recorded in February for the past three years but were still marginally down on those for January.
“Prices were in line with those paid in January, with the median price edging down by $20,000 to $930,000 while the average price edged up by $54,000 to $1,107,006.
“New listings for the month at 2073 were solid, and a combination of new builds and occupied dwellings. At month end we had 5997 properties on our books, the highest number for 14 years. A major contributor to the level of new listings is the continued number of new builds currently being made available for sale.
“During February a quarter of our sales were for properties in the under $750,000 price category, the second consecutive month sales in this price category have represented a quarter of all sales. It reflects the growing number of town houses and apartments making up the total housing stock.
“Properties selling for more than $2 million made up 5.4 percent of total sales.
“Sales activity in the rural and lifestyle markets to the north, south and west of Auckland were consistent with those at the same time last year, with sales reaching $44 million.”
Note
Barfoot & Thompson knows Auckland best. It is the city’s leading real estate company, selling around one in three Auckland residential homes, significantly ahead of all other competitor brands.
For further information, contact Peter Thompson, Managing Director, Barfoot & Thompson, telephone 09 307 5523 or 027 453 5931.www.barfoot.co.nz
Released on behalf of Barfoot & Thompson by Network Communication (Dennis Lynch) telephone 021 963 733 dennis.lynch@networkcommunication.co.nz
| February 2025 | Previous Month | Previous 3 Month Average | February 2024 |
Average Price $1,107,006 | $1,053,446 +5.1% | $1,124,234 -1.5% | $1,116,150 -0.8% |
Median Price $930,000 | $950,000 -2.1% | $987,000 -5.8% | $970,000 -4.1% |
Sales 685 | 700 -2.1% | 845 -18.9% | 633 +8.2% |
New Listings 2073 | 1361 +52.3% | 1308 +58.5% | 2255 -8.1% |
Month-End Stock 5997 | 5383 +11.4% | 5396 +11.1% | 5382 +11.4% |
Kiwi Economics: Trumpian Tariffs And Tough Talk Generate Geopolitical Jitters
University of Auckland: How To Make Technology More Accessible For Older People
Transpower: Transpower Announces Half-Year Results
Financial Markets Authority: FMA Succeeds In Continuous Disclosure Claims Against CBL Chief Financial Officer
Bill Bennett: Download Weekly - Chorus First Half Flat As Economy Bites
Electricity Networks Aotearoa: Traffic Cones Are Increasing The Price Of Power
