Harcourts average selling prices dropped back in July but sales volumes and new listings both improved.
Harcourts is the country’s largest real estate agency and sold 1745 residential properties throughout the country in July, up 3.6% compared to June and up 7.3% compared to July last year.
There was an even more substantial lift in new listings which rose to 2027 in July, up 24.1% compared to June and up 14.1% compared to July last year.
However prices were softer, with the average selling price easing to $598,409 in July, down 3.0% compared to June but still up 3.6% compared to July last year.
Prices were weakest in Auckland where the average dropped to $877,088 in July, down by $46,260 (-4.99%) compared to June, and down by $132,003 (-13.1%) compared to July last year.
Prices were also down in Harcourts’ central North Island region which includes Waikato and Bay of Plenty, where the average price in July was $469,798, -9.7% compared to June and -1.3% compared to July last year.
Prices went against the trend and rose in the Wellington region where the average selling price of $513,180 in July was up 4.4% compared to June, and up 12.2% compared to July last year.
There was also a modest rise in Christchurch where July’s average price was $555,772, up 0.4% compared to June and up 13.8% compared to July last year.
Harcourts also experienced an increase in auction activity in July, with the agency auctioning 476 properties, up 30% compared to June and up 6.7% compared to July last year.
“We urge anyone who is on the fence about their method of sale to remember that an auction’s greatest strength is that that it will give you an accurate reflection of exactly where the market is and what your property is worth,” Harcourts Chief Executive Chris Kennedy said.
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