Auckland's largest real estate agency had a respectable lift in sales to mark the start of spring.
Barfoot & Thompson sold 1032 residential properties in September, up 16% compared to August and up 5% compared to September last year.
That was the highest number of sales that Barfoots has had in the month of September since 2020.
Price signals were mixed.
The agency's average selling price was $1,089,686 in September, up by $8654 (0.8%) compared to August but still down by $10,669 compared to July and down by $41,149 compared to June.
The median price continued its downward trend in September, coming in at $930,000 for the month, down $20,000 compared to both July and August and down by $51,500 since March.
September's median price was the lowest for that month since 2020.
The agency also received a spring boost in new listings with 1781 properties added to its books In September, up 10% compared to August and up 14% compared to September last year.
That was the most new listings Barfoots has received in the month of September since 2020.
The agency's total stock of homes for sale declined for the second month in a row to 5775 , however that was still 15% higher than September last and was the highest level of stock the agency has had on its books at the end of September since 2008, putting stock levels at a 17 year high, which means buyers still have plenty of choice.
"It was a great start to the spring buying season," Barfoot & Thompson Managing Director Peter Thompson said.
"Buyers were committed and there was a general feeling that now was the time to act before prices started to increase," he said.
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20 Comments
"Buyers were committed and there was a general feeling that now was the time to act before prices started to increase,"
Be quick...
What you are seeing here is clearance, that's why we are 4% down on June not 4% up
its because vendors are meeting the market, it will go on for some time.
if you are looking for a V shaped recovery your dreamin
its the beginning of the end of falls, not the start of a massive bull run. (disclaimer - major us meltdown or gloabl war / trade meltdown....)
Why are you comparing the September month to June ITG ?
Why not yvil. After that question, I am not sure if you know much about trends
So your answer to a question is "why not?". Well done Boomer.
My answer to a dumb question is to ask you for your reasoning. Plainly you don't have anything good to say
Are you naturally obtuse or just when on interest.co.nz
see how the spruikers quickly play the man not the ball, there intention is to fill this message board with attacks to remove the possibility of discussing the housing market.... funny as they say its doing fine.
The agency's average selling price was $1,089,686 in September, up by $8654 (0.8%) compared to August but still down by $10,669 compared to July and down by $41,149 compared to June.
The median price continued its downward trend in September, coming in at $930,000 for the month, down $20,000 compared to both July and August and down by $51,500 since March.
September's median price was the lowest for that month since 2020.
Sales are up but prices are depressed, confirming my point above we are seeing clearance based on vendors lowering their price. This is good news for the market, you cannot move to gains until you have a functional market were buyers and sellers have a common view on value.
You guys must be filling your boots with property here if you think its the bottom.
Remember that old saying in trading
You want from the knee to the neck of the move , pigs get slaughtered.
Ie dont try to predict the tippy toes or the top of the bald head, be happy to join the rush as the market clearly moreves up (knees not ankles) etc
Property is not stocks where you can trade at mill seconds, meaning you have to be damn sure the bottoms in or take a big loss to get out quick.
Best of luck yvil and niffy and zach... fill your boots, we are lower than July prices, this is not the ankles, its more the low point of a pair of high heels
What a long waste-of-time reply that doesn't answer the question at all. Try again: Why are you comparing the September month to June, ITG ?
see how the spruikers play the man not the ball, again trying to distract from a discussion of the market and its movements / stats
OK, so you have a comprehension problem. Let's try one more time, the question is really, really simple:
Why are you comparing the September month to June ?
It's not a difficult question ITG, just answer it.
The agency's average selling price was $1,089,686 in September ... still down by $10,669 compared to July
The median price continued its downward trend in September, coming in at $930,000 for the month, down $20,000 compared to July
Hey bright spark have you actually read the article
Two words you should tattoo on your forehead, annoying childish. That way people can treat you in kind from the outset
Your quote above, (before you change it)
The agency's average selling price was $1,089,686 in September ... still down by $10,669 compared to July
The median price continued its downward trend in September, coming in at $930,000 for the month, down $20,000 compared to July
My question to ITG: Why do you compare the September month to June.
You see Boomer, June and July are not the same month, they are different. Who's the "bright spark" now LOL.
SpruikeVester jesters have been clutching at fake BOTTOM straws, ever since early 2023.....all in VAIN!!!.
Try CAPITAL and bold, it's got more IMPACT.
see how the spruikers play the man not the ball, again trying to distract from a discussion of the market and its movements / stats
Great. Vendors are meeting the market (what punters can actually get bank approval for)...finally.
downward trend in September
Down down down, in ponzi town.
normal spruikers calling the bottom, as they have been,
a l l
t h e
w a y
DOWN
what we are seeing here is clearance....... and even that is patchy and depressing
I like to do business in UP town, and that's where you land the best ones
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