Auckland house sales activity quietened in April after a busy March, with only a marginal increase in the average price, and sales numbers down significantly.
The latest data from agents Barfoot & Thompson shows that the average price in April was $878,599, up 0.8% from March and up 8.6% compared to April 2015.
‘Auckland house prices have pulled back from breaking into new territory. For the past year we have been looking at monthly year on year increases of around 12%,’ said Peter Thompson, Managing Director of Barfoot & Thompson.
He pointed out that sales numbers at 944 for the month were also down significantly, falling 29.6% on those for March and down 11.8% on those for April last year.
It means that in April the firm sold the lowest number of homes we have sold in an April in four years, and the likely cause of this was caution around current pricing and the low number of properties on the market, restricting choice.
The data also shows that the median sales price for the month at $820,000 was up 2.8% on that for March and also up 8.8% on that for April last year.
‘In part, the climb in the midway price point (median price) can be attributed to the low number of homes sold in the month for under $500,000. In April only 7.1% of all homes sold were in this price category compared to 10.9% in March,’ Thompson said.
He also pointed out that while house sales above the $1 million mark were the second highest for seven months, overall, activity in April could best be described as restrained.
New listings in April at 1,496 were down 20.2% on those for March and down 5.3% on those for April last year. April’s new listings were the lowest in an April in three years.
‘For the third consecutive month the number of properties on our books at month end declined, and at 2,846 fell 8% below where they were at the end of March. The number of homes on our books at the end of April was the lowest they have been in an April for more than 15 years,’ Thompson explained.
‘While choice across all price segments was low, interest in top end homes remained high, and 355 properties, or 37.6%of all homes sold, attracted a price in excess of $1 million,’ he added.
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