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Press Release – Barfoot and Thompson Auckland house prices shrugged off the normal winter downturn, concerns about increasing prices and warnings of possible future interest rate rises in July. Mounting concerns about the prices being paid and possible future interest rate increases did nothing …
Auckland house prices shrugged off the normal winter downturn, concerns about increasing prices and warnings of possible future interest rate rises in July.
“Mounting concerns about the prices being paid and possible future interest rate increases did nothing to dampen July trading,” said Peter Thompson, Managing Director of Barfoot & Thompson.
Sales for the month were a healthy 1235, with the average and median prices paid being more than 20 percent higher than they were 12 months ago.
Barfoot & Thompson managing director Peter Thomson said mounting concerns about the prices being paid and possible future interest rate increases did nothing to dampen July trading. The winter months were normally a time when market activity slowed, and prices and sales could edge lower, but there were no signs of that occurring this year, he said. “High prices are not proving a deterrent to top end property, and we sold 118 homes for more than $2m the month, which was more than double the number we sold in June last year.” While the agency’s figures showed sales for the month were down by 0.6 per cent on June, they were up by 4.5 per cent on the three-month average.
Auckland Housing Prices Shrug Off Winter Concerns scoop.co.nz - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from scoop.co.nz Daily Mail and Mail on Sunday newspapers.