Barfoot's Auckland listings, sales extend gains in February 5 Mar 2013
- NZ business confidence steady in August Business
- Setback for Ruataniwha scheme as Forest & Bird wins appeal Business
- Seeka acquires Vital Foods' Kiwi Crush Business
- NZX best practice code recommends code of ethics Business
- Pushpay hires former Xero executive James Maiocco Business
- NZ dollar falls against stronger greenback Business
- Foley Family Wines profit jumps on bumper 2016 harvest Business
- Landcorp books $9.4 million loss in FY16 Business
- MARKET CLOSE: NZ shares rise Business
- NZ dollar pares gains to be little changed Business
Article - BusinessDesk
Barfoot's Auckland listings, sales extend gains in February
March 5 (BusinessDesk) - Auckland real estate firm Barfoot & Thompson lifted its property listings and sales last month, which slowed the pace of price rises as more houses were available to meet overheating demand.
New listings climbed 22 percent to 1,752 in February from a month earlier, while sales advanced 8.8 percent to 892, the realtor said in statement. Sale prices increased 0.6 percent to an average $604,164 from January.
"While choice is at its highest since June 2012, it may be a short-term situation as the number of properties for sale still remains at the lower end of the scale over the past decade," managing director Peter Thompson said. "A significant number of new builds have to reach the market before pressure will ease."
The limited supply of affordable housing is being felt most keenly in Auckland where a property bubble is threatening to re-emerge.
That lack of supply has attracted the attention of policy makers who are working through options to increase the amount of land available and to make it more viable for cheaper housing to be built.
Westpac economist Michael Gordon said listings are trending higher from the increase in sale prices, and he expects a 9 percent lift in nationwide sales prices over the course of the year.
"Our forecast is consistent with the housing boom moving into a mature stage, with the rate of growth in both prices and sales starting to level out," Gordon said in a note. "Even that would be of little comfort to the RBNZ - sustained increases in house prices would exacerbate both the inflationary and financial stability concerns that make up its current Policy Targets Agreement."
Barfoot had 3,988 properties on its books at the end of February, an eight month high.
The real estate firm sold 76 houses for $1 million or more, while 45 percent of all sales went for less than $500,000.
25 Aug 2016 News
New Zealand Government Hon Gerry BrownleeMinister of Defence 25 August 2016 Minister welcomes Baghdad appointment Defence Minister... more
29 Aug 2016 Business News
Article - BusinessDesk Monday 29 August 2016 03:47 PM Auckland Council debt rises 4.1% to $7.6 billion on infrastructure spending By... more
24 Aug 2016 Business News
Article - BusinessDesk NZ trade deficit narrows in July from year earlier as imports fall faster than exports By Jonathan ... more
18 Jul 2016 Lifestyle
The Outlook for Someday Young New Zealanders Making Films For Good What does sustainability mean to you? Since 2007 The Outlook for... more
3 Aug 2016 Property
Wednesday 03 August 2016 10:30 AM Auckland house prices are stabilising, may have plateaued, Barfoot says Aug. 3 (BusinessDesk) -... more
2 Aug 2016 Property
Article - BusinessDesk NZ home values rise at fastest quarterly pace in 12 years By Tina Morrison Aug. 2 (BusinessDesk) - New... more
30 Mar 2016 Migration
British High Commissioner Jonathan Sinclair is defending changes to skilled migrant rules for Britain but suggests they won't affect... more
25 Aug 2016 Travel & Tourism
New Zealand Government Hon Wagner using the new eGates at Wellington Airport.... more
10 Aug 2016 Travel & Tourism
Article - BusinessDesk Wednesday 10 August 2016 12:19 PM Aug. 10 (BusinessDesk) - New Zealand accommodation providers had their... more
25 Aug 2016 Motor Sport
25 Aug 2016 Opinion
Column - Gordon Campbell Gordon Campbell on the end game in Spain First published on Werewolf more
11 Aug 2016 Opinion
Column - Gordon Campbell Gordon Campbell on the Impotence of the Reserve Bank First published on Werewolf more
29 Aug 2016 Appointments
New Zealand Government Hon Jo Goodhew Minister for Food Safety 29 August 2016 Jane Lancaster has been appointed to the Food ... more
12 Aug 2016 Appointments
New Zealand Government Hon Hekia ParataMinister of Education 12 August 2016 Appointments to New Zealand National Commission for... more
3 Aug 2016 Recruitment
New Zealand Government Hon Steven Joyce Minister for Tertiary Education, Skills and Employment 3 August 2016 Jobs growth continues... more
3 Aug 2016 State of the Market Report
Wednesday 03 August 2016 11:57 AM NZ private sector wage inflation misses expectations in June quarter Aug. 3 (BusinessDesk) - New... more