PHOTO: Barfoot & Thompson
The Auckland residential property market leapt into life in May with monthly sales numbers at 1027 lifting by more than 40 percent on those for the previous month and for only the third time in 20 months sales numbers in a month exceeding 1000.
“The hand brake that was holding back buyers eased in May, and it led to high sales volumes across all price bands,” said Peter Thompson, Managing Director of Barfoot & Thompson.
“It is the second consecutive month that sales numbers have exceeded their equivalents in 2017 and a further sign that the market is coming out of its 12-month hibernation.
“The prices paid in May eased, with the average price at $918,465 falling to its lowest level in five months, although this price was less than one percent lower than the average price for the previous three months.
“The median price at $820,000 was at its lowest for three months, and down 2 percent on the average for the previous three months.
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