Auckland market recovering: agent
The Auckland property market is back on track according to Barfoot & Thompson’s February sales results.
Monday, March 7th 2005, 5:20PM
Barfoot & Thompson sold a total of 1,056 dwellings in February, a 20% increase on the previous month.
The average selling price was $428,966, while this was slightly lower than January, it was 19% higher than the same time last year.
“This is a very pleasing result and tends to indicate a busy year ahead,” director Peter Thompson says.
“When comparing sales on a week-by-week basis all but one of the past five weeks has overtaken the number of sales made in corresponding weeks last year.”
Almost 40% of properties sold by Barfoot & Thompson during February were for more than $500,000, 18% sold for more than $750,000 and 10% of sales were for properties of more than $1 million dollars.
On the rental market 670 houses and units were let during February for an average weekly rent of $340, which is ahead of the same time last year.
“Overall, the February result indicates good underlying strength in Auckland’s property market,” Thompson says.
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