6 Aug 2014

Auckland house sales fall, prices rise

9:12 am on 6 August 2014

Auckland's largest real estate agency says sales have fallen, while prices have risen.

Barfoot and Thompson says sales fell 13 percent to 983 in July compared with the same period a year ago.

As well, its new listings of house available for sale fell to a seven-month low in July to almost 1400, from more than 1600 the same time last year.

Barfoot & Thompson managing director Peter Thompson said prices typically dipped at this time of year and the upcoming general election had also had an impact.

Barfoot's average house sale price was $719,312 during the month, but down from a record high of $725,708 in March.

He said the highlight of the month was the strong sales of houses under $500,000, and the sales of 169 houses over $1 million.

The median house price rose 10 percent to $640,000.

The company says the number of new listings continued to fall, but weaker sales in recent months have pushed up the overall number of houses for sale.

Barfoot & Thompson says sales fell 13 percent in July, compared with the same period a year ago. The median house price rose 10 percent to $640,000.

Barfoot & Thompson says sales fell 13 percent in July, compared with the same period a year ago. The median house price rose 10 percent to $640,000. Photo: PHOTO NZ