There were mixed messages in Barfoot & Thompson's sales results for June, with sales numbers declining compared to May but selling prices showing a reasonable increase.
The agency, which is the largest in the Auckland residential property market, sold 876 residential properties in June, down from 1072 (-18%) in May, but up by 29% compared to June last year.
Last month's sales were also the strongest they have been for the month of June since 2021.
Selling prices were also firmer, with the agency's average selling price increasing from $1,085,751 in May to $1,130,835 in June, up by $45,084 (4%) for the month, but still down by $105,501 (-9%) compared to June last year.
The median selling price increased by $53,000 (6%) from $928,000 in May to $981,500 in June, but remained down by $38,500 (-4%) compared to June last year.
Overall that was a reasonable result for the agency for the time of year.
However stock levels remain high, with Barfoots having 5831 residential properties available for sale at the end of June.
That was down by 4% compared to May, but was still the highest level of stock for sale for the month of June since 2008.
That puts the agency's stock levels at a 17 year high, which means buyers are still spoiled for choice.
It is significant that the latest stock levels remained high in spite of the lift in sales numbers and a reduction in new listings, which declined from 1855 in May to 1405 in June (-24%) and were down by 7% compared to June last year.
"June is normally a month when sales activity starts to tail off with the approach of winter, but this June was a strong sales month," Barfoot & Thompson Director Stephen Barfoot said.
"The market may be drifting in terms of prices, but when it comes to turnover it is stronger now than is has been since sales and prices peaked in 2021," he said.
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13 Comments
But we were told here the new Council Values would cause a full blown market collapse...
A little early to be smoking the hopium already.
Its the roaring 20s again, the speculative are saved. Tui.
Its the roaring 20s again, the speculative are saved.
We aint seen nothing yet. The money print about to be unleashed across the Anglosphere is going to bigger than you can ever imagine. Without a doubt, the Aotearoa Ponzi will be showered like almost every asset class.
Keep shocking the patient to try and keep it alive I guess. At this point surely that would just push more disbelief in FIAT and reinforce crypto. Oh and look for $20 coffee at the cart.
Bessent is signaling that the new policy is going to be negative real rates to grow out of the debt - nominal interest rates will be lower than fiscal spending. Very much a wartime policy. All asset classes should thrive, but particularly capital concentration in frontier innovative markets; rockets, tech.
In the U.S., people aged 80–96 are buying more homes than people aged 18–27. You might see similar in Aotearoa.
https://www.nar.realtor/sites/default/files/2025-04/2025-home-buyers-an…
A US doc with stats on home buyers - are you looking to invest in US housing? Money printing and risky bank lending enabling the gamblers is the problem. If another massive print up happens will it be time for pitchforks?
There is no choice for anything but massive money printing. Understand what you say about pitchforks, but they will also come out if no money printing occurs. Possibly worse. Damned if you do, damned if you don't.
No money printing would not be the end. Well for the over leveraged it may seem so. Means some of the gamblers and banking enablers go broke.
Water and electricity will still arrive. Food will still be made and available etc . Perhaps there is increased conflict and war, ending with a new alternative to FIAT being launched to become mainstream. Having something independent outside the control of central banking seems inevitable.
No money printing would not be the end.
It'll be interesting to see what the US does. We are slowly seeing a pull away from the use of the USD as a reserve currency and as indicated by the bond market, people are demanding higher interest due to risk, and losing faith that the US will be able to pay back their debts given their propensity to print to pay off the last lot.
Agreed. Without reserve status the US eould look more or less broke. No surprise in the rise of BRICs as a platform of no confidence. Watching closely for sure.
If this status does change global debt tied to USD will be in trouble. Who owns big stakes in the Aussie banks again...oh yes Vanguard and Blackrock. Who also own big stakes in each other as well.
But it will all end well if we just borrow more and inflate it away. Won't it...?
Blackrock and Vanguard own a bit of near everything XD
Bessent is signaling that the new policy is going to be negative real rates to grow out of the debt - nominal interest rates will be lower than fiscal spending
If Europe isn't on board, doesn't this mean the devaluing of the US pesos and accelerated adoption of the Euro?
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