Auckland house sales fall in November, too early to blame LVR’s, says Barfoot

Tue, 03 Dec 2013

Dec. 4 (BusinessDesk) – Fewer Auckland houses are selling at auction, total sales were down 7.1 percent in November against October, and homes worth less than $500,000 are selling more slowly, says Auckland real estate agent Barfoot & Thompson. However, managing director Peter Thompson says these trends are not enough to say the Reserve Bank’s lending restrictions on highly leveraged borrowers are having an impact yet. The average sale price for homes sold in Auckland rose by 3.2 percent from October’s average, to $684,646, while the median p...

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