Story image

Barfoot breaks records for Auckland home sales in March

07 Apr 15

Auckland house sales volume and average prices rose to a record last month, with buyers undeterred by soaring prices in the face of relatively low borrowing costs, according to Barfoot & Thompson, the city's largest real estate agency.

The average sale price rose 3.9 percent from February to $776,729, beating the previous record set in December by $17,000, it said in a statement. The 1,597 homes sold in March was a monthly record for the firm.

The Barfoot monthly numbers follow Quotable Value's data last week which showed a 13.9 percent jump in residential property values in Auckland, driving a 7.7 percent gain in national values in the past year, the fastest pace in nine months. The Reserve Bank has cited Auckland's overheated property market, where supply lags behind population growth-driven demand, as a key risk to New Zealand's financial stability.

Buyers remain convinced that with a stable economy, low interest rates and restricted housing availability, buying at current prices is manageable," said the firm's managing director, Peter Thompson.

Sales in March included 420 homes for more than $1 million, up from 253 in the same month last year.

The 1,997 new listings in March was the highest in 17 months and probably reflected home owners being encouraged to come to market because of current high prices, the firm said. At the end of the month, listings were at a 10-month high of 3,347.

National property values rose 7.7 percent over the past year, accelerating from the 6.4 percent increase in February, and at the fastest pace since last June, according to state-owned valuer QV. Auckland, the country's most populous and fastest growing city, led the index higher, with property values advancing 13.9 percent, ahead of the 13 percent rise the previous month.

DigiCert conquers Google's distrust of Symantec certs
“This could have been an extremely disruptive event to online commerce," comments DigiCert CEO John Merrill. 
Protecting organisations against internal fraud
Most companies tend to take a basic approach that focuses on numbers and compliance, without much room for grey areas or negotiation.
Telesmart to deliver Cloud Calling for Microsoft Teams
The integration will allow Telesmart’s Cloud Calling for Microsoft Teams to natively enable external voice connectivity from within Teams collaborative workflow environment.
Jade Software & Ambit take chatbots to next level of AI
“Conversation Agents present a huge opportunity to increase customer and employee engagement in a cost-effective manner."
52mil users affected by Google+’s second data breach
Google+ APIs will be shut down within the next 90 days, and the consumer platform will be disabled in April 2019 instead of August 2019 as originally planned.
GirlBoss wins 2018 YES Emerging Alumni of the Year Award
The people have spoken – GirlBoss CEO and founder Alexia Hilbertidou has been crowned this year’s Young Enterprise Scheme (YES) Emerging Alumni of the Year.
SingleSource scores R&D grant to explore digital identity over blockchain
Callaghan Innovation has awarded a $318,000 R&D grant to Auckland-based firm SingleSource, a company that applies risk scoring to digital identity.
IDC: Standalone VR headset shipments grow 428.6% in 3Q18
The VR headset market returned to growth in 3Q18 after four consecutive quarters of decline and now makes up 97% of the combined market.