Auckland property prices increase 12%
The Auckland property market continues to go from strength to strength with the average sale price increasing 12% during the month of March, Barfoot & Thompson’s latest sales figures reveal.
Wednesday, April 4th 2007, 1:18PM
by The Landlord
Barfoot & Thompson experienced its busiest March since 2003, with total sales of 1,444, compared to 1,249 for the same period last year. The average price for March was $564,162, up from $504,079 in February and $475,461 in January.Barfoot & Thompson director Peter Thompson says, “There is clearly continuing strength in the Auckland property market. Every week this year our total sales numbers have been ahead of the corresponding week last year – and this is consistent across every price tier in the market”.
“While I would expect the average price to settle back a little from this month’s high, it would appear the average Auckland sale price is likely to remain firmly above the $500,000 mark after hovering around that price point at the end of last year.”
On the property management front, March was also a busy month for Barfoot & Thompson. 688 houses and units were let, on par with the same month last year, however the average weekly rent increased $10 to reach a new high of $367.
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