Auckland market 'totally different'
Spring has not yet sprung for Auckland’s housing market, new data from Barfoot & Thompson confirms.
The Auckland real estate agency said the combination of tighter mortgage lending restrictions and the perception that property was fully-priced were slowing housing activity.
“In September new listings were down, and sales numbers and prices were restrained,” said Peter Thompson, managing director.
“With the arrival of spring, housing activity normally lifts, but it has not been the case this year. Rather the market continued the trend which first showed in July of prices increasing at a much slower rate that in the past two to three years. While in September the average price increased, compared to August, the median price actually stayed constant,” he said.
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