Market Update August 2016

This from Peter Thompson

Auckland house prices continued to rise in August, but signs the rate of increase is slowing – which first showed up in July – were still present. “August’s price increase was restrained, for both the average price and the median price,” said Peter Thompson, Managing Director of Barfoot & Thompson. “The slow-down is not so obvious when comparing August data with that for July, but when you look at the average for the previous 3 months it becomes more apparent. “The average sales price in August was $906,560. While this was up 4.5 percent on that for July, it was up only 2.6 percent on the average price over the previous 3 months.

I am seeing reduced numbers at open homes but prices have remained quite robust.

August 2016 Suburb report

Note: The Te Atatu Peninsula average 3 bedroom house is up 3.19% from last month, while rent has stayed the same.

Who has been selling what in our area in July!

Sales in the Te Atatu Peninsula and Harbourview area which have been lumped together (not ideal), Barfoot and Thompson hold a 45.45% market share. For every 20 houses sold, Barfoot and Thompson sell 9. Closest rival is Harcourts with 27.27%.

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