The Auckland housing market is at its peak! House prices stagnate and sales surge, buyers are in the best time!

This article is reproduced from the official account: Barfoot and Thompson

In May, Auckland home buyers flocked to it, with property transactions soaring more than a quarter of the month, setting a record for the same period in four years.

Peter Thompson, managing director of Barfoot & Thompson, said: “May performed exceptionally strongly, with a total of1,072 properties soldthis is the third consecutive month to set a single-month sales record since 2021. ”

Sales in May increased by 27.3% compared with April. Judging from the trading volume, the market is in an active period.

What drives higher trading volume isHouse prices tend to stabilizethe month’s home salesMedian price is $928,500，The average price is $1.085 million。

The current market is inA rare stable periodthe stagnant housing prices have causedThe cost-effectiveness has reached the best level in the past two or three years。

Buyers realize that the market may be on the verge of change and are activelyGrasp the current price window。

The number of homes for sale remains high, with 1,855 new properties added in May, hitting a nine-year high, bringing the end of the monthThe total number of properties on sale reached 6,083. This figure is during the peak housing prices in 2021double。

Newly listed apartment-style homes are beginning to affect market statistics.

Among the homes we sold in May are30% price is less than $750,000while this price accounted for only the same period five years ago7%。

The large number of transactions in apartment-style residences not only makes it easier for those with limited income to buy property, but alsoSuppressed the rise in the market’s median and average prices。

In the high-end market, sales of $2 million and above are still strong, and the price range has been this yearAverage monthly transactions of 57 unitsreaching the highest level after the price peak in 2021/2022.

Rural and estate markets in the northern, southern and western Auckland metropolitan area also rebounded significantly, with sales in May of nearly $80 million, setting a record monthly sales high for this market this year.

Compared with April, rural and manor real estate transaction volume increased by 61%, and total sales increased by 30%.

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