New record house price for Auckland
Peter Thompson, managing director of Barfoot & Thompson, said: “For much of this year the average price moved between $580,000 and $590,000 but with two consecutive months of trading at an average price well above $600,000, the entire pricing structure has lifted.”
He said Christmas might offer some average price easing, but February and March would see prices lift again.
“Telling signs that higher prices have become entrenched are the 146 homes that sold for in excess of $1 million, a quarter more than we have ever sold in one month previously, and that 43% of homes sold for less than $500,000, whereas on average the number is normally half.”
He said it was buyer demand pushing up prices.
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