Barfoot & Thompson Auckland listings at decade low

In their July update the company said the low number of new listings and the total number of properties for sale in July had produced the tightest property market for choice in Auckland for four years.

"While choice is limited it is not holding back sales numbers, or contributing to higher prices," said Barfoot & Thompson managing director Peter Thompson.

"In July we sold what in the past few years has become the norm for house sales, and the average price was $530,191, which is around 1% lower than what we achieved in July last year."

Thompson said the market was stable and awaiting greater certainty in terms of when the economy will pick up.