For the fifth consecutive month sales were in excess of 1,000 for the month, and sales have not been this consistently high since the first of half 2004, according to the report from Barfoot & Thompson.
‘July was a good month for new listings. During July we saw a 37% increase in the number of new listings onto the market. This represents the second best month for new listings in 2013,’ said the firm’s managing director Peter Thompson.
‘While new listings have increased, house prices have remained constant in Auckland since March which suggests a steady and consistent market,’ he added.
He also pointed out that competition for properties in Auckland remains strong, but the sales figures indicate that buyers have a keen sense of a property’s value and are keeping a level head when it comes to prices.
‘In fact, the median selling price for July has shown a slight decrease at $585,000, which is $5,000 lower that in June,’ he explained.
Overall demand for property was strong throughout July and sales for the month were 1,133, an increase of nearly 7% on June and a 13.5% increase on the same month last year. The last time a similar number of properties were sold during July was in 2005.
‘By the end of July we had 2,837 properties on our books, which represents 29% fewer listings than July last year and, in fact, an all time low for available listings,’ Thompson added.
During July Barfoot & Thompson sold 439 homes for less than $500,000, and a further 356 for between $500,000 and $750,000. Some 152 homes sold for in excess of $1 million, eight more than were sold in June.