Auckland House Prices, Sales Rise In July: Barfoot & Thompson

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The average house sale price increased by NZD 10,000 to NZD 507,384 in July compared to the previous year, New Zealand's largest real estate company Barfoot & Thompson said Wednesday. Meanwhile, housing sales grew 23.8% to 779 properties.

"The market is showing no signs of giving up the gains made over the prices and sales volumes recorded last year," said Managing Director Peter Thompson.

On a monthly basis, the average house prices dropped 2.8% in July, while the sales volume slipped 9.5%.

There were 1386 properties listed for sale in July, marking an increase of 16.6% compared to the previous month and 18.4% growth from a year ago.

Meanwhile, the average weekly rent increased by NZD 4 annually in July and the number of properties let up 11%.

"Overall, July activity can be seen as a month which emphasised that Auckland housing has found a new base," Thompson said. "People are feeling comfortable with current prices and trends."

The average house sale price increased by NZD 10,000 to NZD 507,384 in July compared to the previous year, New Zealand's largest real estate company Barfoot & Thompson said Wednesday. Meanwhile, housing sales grew 23.8% to 779 properties. (Market News Provided by RTTNews)