June 2024 Housing Market Update

*Includes Barfoot & Thompson Auckland residential sales that have gone unconditional. Excludes Northland and commercial sales.

Auckland Housing Market Remains in Recovery Mode

The arrival of winter had no impact on the Auckland housing market in June with sales prices edging higher than those in May.

“From a price perspective, June’s trading was positive with the median price at $1,020,000 hovering around where it has been for the previous three months,” said Barfoot & Thompson Director, Stephen Barfoot.

“Compared to the median price for June last year, it was 2.5 percent higher.

“The average sales price was more robust, edging up 4.5 percent over that for May to $1,236,336, which is 12.6 percent ahead of where it was this time last year. 

“Both the median and average sales prices are now sitting well above the bottom of the price cycle which was experienced in June and July last year.

“Sales numbers at 681 were down a quarter on those for last month. May was a standout month for sales this year, and there is invariably a seasonal decline in sales as winter approaches. 

“In the first six months of this calendar year, sales are well ahead of the first six months trading last year. This year we have sold 4,499 homes compared to 3,513 last year, an increase of 28.1 percent.

“With overall higher sales numbers and prices remaining constant, the market remains in recovery mode rather than going backward. 

“At 1,506, a high number of new listings continued to hit the market, and at month end we had 5,736 properties on our books, nearly a third higher than in June last year.  

“A feature of June’s trading was the strength of sales in the top price segments, with 61, or 9 percent of sales, being above $2 million, with 19 of these sales being more than $3 million.

“In the last 7 months, we have only once sold more homes in the above $3 million price bracket than we did last month (in March of this year).”

Barfoot & Thompson knows Auckland best. It is the city’s leading real estate company, selling around one in three Auckland residential homes, significantly ahead of all other competitor brands. 

For further information, contact Peter Thompson, Managing Director, Barfoot & Thompson, by telephone at 09 307 5523 or 027 453 593. www.barfoot.co.nz.  

Released on behalf of Barfoot & Thompson by Network Communication (Dennis Lynch) telephone 021 963 733  dennis.lynch@networkcommunication.co.nz