3 Sep 2014

Quiet housing market 'due to election'

2:41 pm on 3 September 2014

Auckland's largest real estate agent is blaming the general election for a fall in sales, prices and listings of new houses available for sale in August.

Barfoot & Thompson said its sales fell 7.5 percent in August from July and the average selling price dropped more than 1 percent to nearly $712,000.

However, the average selling price was up 10 percent from August last year.

New listings were down more than 19 percent from July, and were 34 percent below levels in August last year.

Managing director Peter Thompson said the housing market invariably goes quiet in the lead-up to a general election.

"It's a combination of the upcoming election and also the traditional seasonal trend, with mid-winter preparing to go into spring."

Barfoot & Thompson accounts for about one in three of house sales in Auckland.

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