AUCKLAND PROPERTY MARKET UPDATE - HOLDING STEADY AHEAD OF SPRING
On a cold "pre election winter" weekend, here's a summary of Peter Thompson's Market Report for July...
The Auckland property market remained steady throughout July, with both sales activity and prices tracking much the same as we've seen over the past few months.
While winter is traditionally a quieter period, the market has held its ground well and appears to be in good shape as we head towards spring.
July at a glance:
845 properties sold across Auckland.
Median sale price: $945,000 (up 0.5% from June, but down 0.5% from July last year)
Average sale price: $1,102,469 (virtually unchanged from last month and up 0.2% from last year)
25% of all sales were under $750,000.
7% of sales achieved prices above $2 million.
Despite ongoing global uncertainty and mixed economic headlines, Auckland's housing market has remained resilient rather than drifting backwards.
Looking ahead, the arrival of spring is already encouraging more homeowners to come to market, with 1,551 new listings added during July and 5,943 properties available at month-end.
As buyer activity traditionally increases over the coming months, spring will give us a clearer indication of where the market is heading for the remainder of the year.
Thinking of making a move this spring? Now is a great time to have a conversation with us about your property's current value and the opportunities available in today's market.
