Hi ,  

I’m delighted that spring is here and the promise of warmer weather and longer summer evenings are within reach. September is usually the time of year where the property market begins to gain momentum, as we shake off the slower pace of the winter months.
 
While Auckland house prices continued their ascent in August, the rate of increase is slowing. We first noticed this trend in June and as August ended, we witnessed a more restrained market as price increases remained modest compared with the meteoric rises of recent years. Purchasers are remaining firm on not paying more than what they believe is the market price.

While August’s average sales price was up 4.5 percent on July to $906,560, it was up only 2.6 percent on the average price over the previous 3 months.

It’s a wait-and-see approach to see what September will bring. Peter Thompson says the real test “of where prices are heading will come this month with the arrival of spring. For the past 3 years, September's average and median prices have exceeded those for August, with prices then continuing to increase to year end."

Warm alofas,
Repeka

Our Auckland Central Branch. 2016 -2017 executive elected.

I'm honoured to be elected President of our Auckland Central Branch of P.A.C.I.F.I.C.A a National organisation which was founded by Eleitino Paddy Walker over 40 years ago to support and enable our Pacific women to have a voice.

Auckland house prices continued to rise in August, but signs the rate of increase is slowing - which first showed up in July - were still present.

"August's price increase was restrained, for both the average price and the median price," said Peter Thompson, Managing Director of Barfoot & Thompson.

"The slow-down is not so obvious when comparing August data with that for July, but when you look at the average for the previous 3 months it becomes more apparent.

"The average sales price in August was $906,560. While this was up 4.5 percent on that for July, it was up only 2.6 percent on the average price over the previous 3 months.

Buyers guide to auctions
What is an auction? An auction is a method of selling a property through the process of public negotiations. Purchasing property through an auction allows you to publicly negotiate the price, which helps ensure you are paying the true market value for the property at that time. Find out how buying at auction can provide many benefits that buyers may not be aware of.