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Auckland's largest real estate agency experienced a dramatic decline in sales volumes in April, with selling prices also dropping.
Barfoot & Thompson sold just 615 residential properties in April, down from 1107 in April last year. That's a fall of 44%.
It was the lowest number of properties the agency has sold in the month of April since 2008, apart from April 2020 when New Zealand was in a Covid-19 lockdown.
At the end of April it had 4845 residential properties available for sale, up 45% compared to April last year.
Barfoot's average selling price was $1,212,376 in April, down from $1,234,572 in March.
The average selling price is now $66,271 lower than its December 2021 peak of $1,278,647.
April's median selling price was $1,141,000, down by $99,000 compared to December's peak of $1,240,000. |
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