Barfoot & Thompson’s sales took a dip in June but remain ahead of last year – prices flat overall

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Barfoot & Thompson’s sales for June suggest the Auckland housing market remained largely flat for the first month of winter.

The agency sold 903 residential properties last month compared to the 1027 it sold in May but ahead of the 855 it sold in June last year. However, it was well down on the numbers for June from 2012 to 2016 when they were generally around 1000 or more.

The average selling price edged up slightly to $928,842 compared to $918,465 in May but still below the peak of $968,570 set in March last year.

The median price headed in the opposite direction and dropped to $810,000 compared to $820,000 in May.

It was the third consecutive month that Barfoot’s median selling price has fallen and it is now at its lowest point since July last year and well below its peak of $900,000 set in March last year.

“The sales data for June is a mix of up and down numbers, but overall sales, prices and availability remained stable,” Barfoot & Thompson Managing Director Peter Thompson said.

“Market prices, which have marked time and came under no pressure to move in one direction or another since the beginning of the year, have entered the winter period in the same state.” 

The figures also suggest that fewer people are deciding to sell, with Barfoot signing up 1210 new listings in June compared with 1455 in May and 1570 in June last year.

That was the lowest number of new listings Barfoots have signed up in the month of June since 2014.

However inventory levels – the total number of homes available for sale through the agency – remain healthy.

At the end of June Barfoots had 4267 residential properties available for sale, down from 4568 in May but almost unchanged from the 4297 it had in June last year.

So buyers should still have plenty of choice.

“It is a market environment that is likely to remain constant to the start of spring,” Peter Thompson said.

Barfoot Auckland

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