MARKET UPDATE APRIL 2017 | The “A-TEAM” Barfoot & Thompson

April 2017 housing market update

Time period Number of sales* Total value of sales
April 2017 664 properties $608,941,053
April 2016 944 properties $824,677,939
12 months to April 2017 11,057 properties $10,149,524,761
12 months to April 2016 13,236 properties $11,057,911,912

*Includes Barfoot & Thompson Auckland residential sales that have gone unconditional. Excludes Northland and commercial sales.

Falling Auckland house sales numbers have limited impact on prices

Auckland property sales numbers fell to their lowest level in an April since the 2008 global financial crisis last month, but lower turnover had a limited impact on sales values.

“Sales numbers in April were down by about a third compared with the average for the previous three months, yet given this significant fall the average and median prices held steady,” said Peter Thompson, Managing Director of Barfoot & Thompson. The median sales price at $850,000 for the month was down only $5,500 on the average median price for the previous three months.

The same trend was there around the average price, which at $917,079 was down only $25,000 on the average for the previous three months. While prices have declined from March’s all-time record highs, the fall relative to the average for the first quarter of this year is modest, and on a year-on-year basis the median price is up 3.7 percent and the average price is up 5 percent.

It is a changed market from what we have been experiencing for a number of years and you have to go back nine years to find an April in which fewer homes were sold. Buyers are being far more selective, are taking their time over committing and are only prepared to pay the market price.

Vendors are not lowering their price expectations significantly but are accepting that to achieve an above market sales price in the current climate their house has to be special. New listings in April were excellent at 1292, and combined with lower sales this allowed stock numbers and buyer choice to remain high.

At month end we had 4214 listings on our books, close to what it has been at month end each month this year, but 48.1 percent higher than it was at the same time last year. The decline in sales numbers was felt evenly across all price ranges, with more than a third of all sales being for more than $1 million.

Sales of property under $500,000 accounted for 6 percent of all sales.

Barfoot logoSELLING, BUYING?

CONTACT | The “A-TEAM”
EDITA : ☎ 021 765 234
PETER : ☎ 021 023 68230

Residential sales report

Sales volumes by focus area

Apr 17 Apr 16 12 months to Apr 17 12 months to Apr 16
Central Auckland 30 24 612 659
Central Suburbs 87 126 1,759 1,860
Eastern Suburbs 51 69 824 1,085
Franklin/Manukau Rural 49 78 786 926
North Shore 148 191 1,953 2,618
Pakuranga/Howick 55 91 911 1,049
Rodney 40 75 777 941
South Auckland 84 140 1,470 1,814
West Auckland 103 150 1,816 2,120

Average sale price by focus area

Apr 17 Apr 16 12 months to Apr 17 12 months to Apr 16
Central Auckland $537,933 $556,042 $604,557 $623,400
Central Suburbs $1,049,080 $1,013,452 $1,026,784 $1,014,122
Eastern Suburbs $1,057,349 $1,066,283 $1,170,409 $1,065,014
Franklin/Manukau Rural $834,571 $762,635 $779,969 $687,173
North Shore $1,079,029 $1,110,452 $1,123,524 $1,018,664
Pakuranga/Howick $1,094,132 $1,025,332 $1,105,558 $984,238
Rodney $903,213 $916,549 $950,824 $816,036
South Auckland $714,761 $713,489 $740,804 $652,256
West Auckland $810,223 $787,788 $818,701 $740,336

Sales volume by number of bedrooms

Number of sales Number of bedrooms
0 1 2 3 4 5+
Central Auckland 0 13 16 1 0 0
Central Suburbs 2 5 20 34 21 5
Eastern Suburbs 0 3 16 18 11 3
Franklin/Manukau Rural 3 0 1 18 20 7
North Shore 26 3 15 47 30 27
Pakuranga/Howick 8 1 5 14 13 14
Rodney 2 0 4 18 10 6
South Auckland 1 0 12 41 19 11
West Auckland 3 2 20 50 21 7

Sales price by number of bedrooms

Average price Number of bedrooms
0 1 2 3 4 5+
Central Auckland $439,500 $569,281
Central Suburbs $1,546,500 $406,000 $806,970 $1,038,129 $1,273,571 $1,593,225
Eastern Suburbs $503,000 $797,063 $1,131,822 $1,356,364 $1,456,667
Franklin/Manukau Rural $443,333 $756,278 $862,925 $1,143,643
North Shore $1,089,465 $464,000 $712,067 $949,998 $1,210,617 $1,419,585
Pakuranga/Howick $1,053,804 $680,000 $1,001,429 $1,153,000 $1,350,914
Rodney $617,500 $736,500 $808,667 $987,950 $1,252,000
South Auckland $517,500 $666,500 $786,178 $1,016,909
West Auckland $534,000 $632,500 $637,705 $763,055 $1,083,295 $989,984

Groups with less than two sales in the month have been removed. Carparks have also been removed.

Auckland median price

2012 2013 2014 2015 2016 2017
Jan $470,000 $526,888 $580,000 $700,000 $760,000 $846,500
Feb $464,000 $525,750 $620,000 $685,000 $738,000 $820,000
Mar $500,000 $575,000 $652,000 $711,000 $798,000 $900,000
Apr $491,250 $566,000 $619,550 $753,500 $820,000 $850,000
May $504,000 $570,000 $645,000 $750,000 $809,500
Jun $528,900 $590,000 $626,500 $786,000 $839,500
Jul $518,500 $585,000 $645,000 $757,000 $840,000
Aug $505,500 $561,500 $630,000 $755,000 $850,000
Sep $525,000 $599,000 $635,000 $790,000 $850,000
Oct $545,000 $590,000 $655,000 $780,000 $865,000
Nov $560,000 $621,400 $691,500 $795,000 $850,000
Dec $550,500 $629,000 $720,000 $800,000 $840,000

MARKET UPDATE APRIL 2017 | The “A-TEAM” Barfoot & Thompson was last modified: by