State-owned enterprise says this is still not a recovery from the quiet winter market
Barfoot & Thompson has revealed an increase in Auckland house sale activity following a quiet winter.
The real estate company found a 14% increase in the city’s house sale activity between August and September – from 1,052 new properties listed by the agency in August to 1,204 last month.
“After a relatively quiet winter, the expectation was that with the arrival of spring we would see house sale activity increase," Peter Thompson, managing director at Barfoot & Thompson, told NZ Herald.
“The most significant number in the month's trading data was the increase in new listings at 1204, up 14.4 per cent on those for August and up 12.2 per cent on the average number for the previous three months.”
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However, Quotable Value (QV) warned that there is still no spring recovery yet – as proven by its latest report.
The firm’s national house value data for September revealed that North Shore values dropped 3.5% in the year ending September 2019 and by 0.3% during the past three months. The average value is now $1,173,529.
Moreover, values in the former Auckland City Council central suburbs dropped 1.5% year on year but has increased 0.6% during the past three months. Waitakere values also dropped 1.4% annually, Manakau 1.3%, Papakura 0.4%, and Rodney 0.9%.
