House sales rise more than 50% on a year ago

Last month 879 properties were sold, 20.9% more than in July, 22.1% higher than the average number of monthly sales for the previous three months and 52.1% more than for the same month last year.

It signals that the recovery of the Auckland housing market is near, Peter Thompson, Barfoot & Thompson managing director says.

Not only did the number of sales during the month increase significantly, but the median sales price at $982,500 was also up 3.4% on that for July.

“Against where the market has come from, August’s results are only a modest step forward, but the level of buyer motivation was the best it has been for more than two years,” Thompson says.