Happy Friday! Here's Peter Thompson's latest Auckland housing market update for October.
Auckland property prices showed encouraging signs of stability in October, despite slower sales activity and the highest number of properties available for sale in nearly two decades.
Peter Thompson, Managing Director of Barfoot & Thompson, noted that prices enjoyed a modest rally during the month, suggesting the market may have reached the bottom of the price cycle.
October's key figures:
Median sale price: $967,500 – up 2.9% on September and 1.8% on October last year.
Average sale price: $1,093,379 – an increase of 1.7% on September.
Properties sold: 696 – down 9.4% on September.
New listings: 1,845 properties came onto the market during October.
Total available properties: 6,508 – up 8% on October last year and the highest month-end level in 18 years.
Interestingly, both median and average sale prices have exceeded their corresponding 2025 figures in seven of the first ten months of this year.
So, what does this tell us?
While buyers remain cautious, prices are proving resilient despite the high level of available stock. Buyers continue to enjoy considerable choice, while sellers are showing a reluctance to accept prices below current levels.
The market appears to be finding its footing, although sales activity will need to strengthen before we can confidently say a recovery is underway.
