Auckland real estate agents Barfoot & Thompson had their busiest month in five years in March as the average sale price for homes in the country's largest city fell, according to realtors Barfoot & Thompson.
The firm sold 1,246 homes in March, up 16.4 per cent on a year earlier, it said in a statement. The average sale price fell 1.7 per cent on the same month a year earlier to $571,076.
"March was a month where the views of buyers and sellers reached common agreement as to where values were at," said Peter Thompson, managing director. "Prices at this level, accompanied by a high turnover, is an indication of the confidence buyers have in the long-term value of Auckland property."
Thompson said the fact that March's average price was $10,000 below last year's average, and $2,000 below December's, indicates prices are not spiralling.
Barfoots had 4,771 homes on its books at the end of March, down 17.8 per cent on the same period a year earlier, to its lowest level in four years.
