Wednesday, 06 August 2008
Auckland house prices fell in July, according to new figures.
The average sale price declined 5.3 percent from $525,316 in June to $497,479 in July, according to real estate firm Barfoot & Thompson.
However the number of sales increased 13.1 percent from 556 to 629 over the same period.
Barfoot & Thompson Managing Director Peter Thompson believes the company's July activity report shows that vendors who need to sell are gradually adjusting to the market and lowering their expectations.
Mr Thompson says while prices clearly eased during the month, the average was skewed slightly by a package of 87 apartments going unconditional during that time and reducing the overall average.
Auckland house prices fell in July, according to new figures.
The average sale price declined 5.3 percent from $525,316 in June to $497,479 in July, according to real estate firm Barfoot & Thompson.
However the number of sales increased 13.1 percent from 556 to 629 over the same period.
Barfoot & Thompson Managing Director Peter Thompson believes the company's July activity report shows that vendors who need to sell are gradually adjusting to the market and lowering their expectations.
Mr Thompson says while prices clearly eased during the month, the average was skewed slightly by a package of 87 apartments going unconditional during that time and reducing the overall average.