No expectations for house sales
The Auckland real estate market was weak in the second half of 2010 compared with the first half, with new listings and actual sales in the month of December well below December 2009, say Barfoot & Thompson.
Real estate appears to have tracked economic sentiment, with a strong start to 2010 petering out half-way through the year.
‘‘The average number of houses sold per month over 2010, at around 665 homes, was down on the 2009 average of around 780,’’ said managing director Peter Thompson. While second half sales were lower, they had been maintained at a steady rate.
The firm is ‘‘positive but cautious’’ about this year and suggests the election and Rugby World Cup will dampen sales activity again in the second half.
Both average sale prices and new listings were comparable for the whole of the 2010 calendar year, compared with 2009.
The average sale price rose 1.4 per cent to $529,648, compared with a year earlier, while average monthly new listings at 1319 were barely changed from 1314 the year before. The month of December 2010 was weak. New listings were down 23.6 per cent, sales were down 19.1 per cent and the average sales price was off 4.2 per cent to $529,682, Thompson said.