Average sales prices for Auckland residential property sold by the city’s biggest agency rose by $918/day last month compared to March. Barfoot & Thompson has just released sales data showing that the residential properties it sold had an average sale price of $776,729 in March but that rocketed up to $804,282 last month. The average was therefore up $27,553 in one month alone or $918/day. But volumes were down sharply from 1597 sales in March to 1070 last month. “The average price increased to $804,282, which was an increase of 3.5 per cent on that for March, while the median price at $753,500 was an increase of 6 per cent. Since the start of the year, the average price has increased by 6.2 per cent and the median price by 7.6 per cent. “While these are significant increases, they are not out of the ordinary in that they are similar to the levels of increase experienced over the past two years. More top end properties are sold in the summer/autumn months than in the second half of the year, and this results in the average price easing back after strong starts to the year. “Our average sale price increase over the 12 months ending April 30 is 13.5 per cent,” she said. article via...
Buyers could snap up four Tokoroa houses for the cost of a single bedroom in top Super City suburbs, Real Estate Institute figures show Auckland house prices have surged so much that the cost of just one bedroom in the suburb of Remuera is more than four times the price of an entire house in Tokoroa. The Real Estate Institute (Reinz) has worked out the median cost of a bedroom in some of Auckland’s most expensive suburbs and compared it with the median houses prices in some affordable towns around the country. The figures are based on house sales over the past 12 months and include land values. Reinz also looked at the bedroom price in some of Auckland’s cheaper, often first home-buyer, suburbs but they were still the same price as two whole houses in Tokoroa. New Lynn had a bedroom price of $181,639 and Henderson’s was $165,946. The institute did not look at Herne Bay because there were not many sales compared with the other suburbs. article via...