Auckland house prices drop: Barfoot
The agency reported that the average price fell 1.1% in September compared to the month before, to $585,838.
Managing director Peter Thompson said: “The most significant factor still affecting the market at present remains the low number of properties for sale. Restricted choice has been an influencing factor all year, but whereas in the past four months it has contributed to rising prices, in September buyers were cautious about paying more than their assessment of market value. That combination of elements trimmed about $6000 off the average selling price during the month.”
But compared to September 2011, prices were up almost 7%.
Thompson said the firm listed 1266 new properties in September, down 10.7% on August.
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