KEY TAKAWAYS FROM PETER THOMPSON'S AUGUST MARKET REPORT

With Barfoot & Thompson selling some 42% of property in Auckland, Peter Thompson's monthly report always paints an interesting picture of the current market. 

Here's our summary of his August Report:

       Sales steady: 889 homes sold in August, consistent with the same month over the past three years.

       Prices stable: The median price stayed at $950,000, with the average at $1,081,032 – little movement over the past three months.

       Buyer demand strong: Well-priced properties are attracting solid interest, while vendors holding out for higher prices are missing out.

       Under $1m sales surging: 56% of sales were under $1 million (up from 41% three years ago), showing growing demand for townhouses and apartments.

       High-end slowdown: Just 42 sales over $2 million – the lowest in five months.

       Listings steady: 1,622 new listings in August, with 5,873 properties on our books at month’s end.
 

What does this mean for you?

For vendors: 
The market is rewarding properties priced in line with current conditions - buyers are active and competition is strong at today’s levels. Homes under $1 million are in hot demand, especially townhouses and apartments, while the premium market ($2m+) has slowed.

For buyers,
Stable prices and steady listings mean plenty of choice, particularly in the more affordable bracket. The consistency of sales suggests confidence is back in the market.

At the coalface here in the office, appraisal requests are increasing as is attendance at our local open homes.

Happy Fathers Day to all the Dads!