Mixed data seals deal
The latest Barfoot & Thompson data is out and it indicates that Auckland’s prices have gone up again.
Auckland’s average sale price jumped by 4.2% to $876,075 in November, from $840,402 in October, the data shows.
At the same time, the city’s median price went up by 1.9% to $795,000 from $780,000 in October.
Barfoot & Thompson director Kiri Barfoot said that, after seven months of modest monthly increases, it was necessary to go back to March 2014 to find a bigger monthly increase in the average sales price.
But the agency had seen a lot of properties in the over $1 million price category selling in November, and that tends to skew the price figures, she said.
“While prices seem to have ignored Government and Reserve Bank measures designed to cool prices, there has been a measurable decrease in market activity.”
In October market activity slowed, and that trend continued into November, she said.
November sales were down by 7.7% on October, while new listings were down 7.5% on October.
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