LATE AUTUMN BOOST TO AUCKLAND PROPERTY MARKET

“The Auckland market experienced a late autumn boost in May,” said Peter Thompson, Managing Director of Barfoot & Thompson.

“The boost came in the form of buyers being prepared to meet prevailing prices, and we sold 916 homes in the month.

“This is the highest number of homes we have sold in the month of May for three years and is nearly a third higher than the number of homes we sold in April. 

“Vendors have trimmed their price expectations in recent months as the summer selling season draws to a close, and buyers have responded positively to the opportunity.

“It is another sign that the housing market is finding stability around current price levels.

“With 1,695 new listings in the month, and total listings of 5,763 at month end, buyers continue to have the greatest choice in more than a decade.

“Currently, for every home being sold, there are another 6 on the market.