Market uncertainty thumps Auckland sales

Barfoot & Thompson saw 667 sales in April, which was a 30.7% decline on the 963 sales recorded in March and an 8.8% drop from 731 sales in April last year.

The steep decline in sales activity was due to uncertainty around prices as well as a number of other factors, Barfoot & Thompson director Kiri Barfoot says.

“There was the shadow a potential capital gains tax threw over April sales activity and the market also had to contend with an exceptionally long holiday break created by Easter and Anzac Day being so close.”

While this powerful combination impacted on sales, prices of those properties that did sell remained steady in April.