Could Auckland’s property market be slowing?
This month’s Barfoot & Thompson data showed Auckland’s average sale price hit an all-time high of $826,474 in June.
However, Barfoot & Thompson managing director Peter Thompson said that, while the market had its busiest June in 11 years, the rate at which average house prices rose slowed considerably.
The average sale price increased by only 0.5%, or a little over $4000, on that for May yet, over the previous three months, prices increased by an average of 3.2% a month, he explained.
This means the June year-on-year increase was now 15.7% - which was considerably lower than that of the first five months of the year.
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