Auckland house sales volumes drop in August as loan restrictions start to bite, Barfoot says

Sun, 04 Sep 2016

By Paul McBeth Sept. 5 (BusinessDesk) - The number of house sales in Auckland dropped by more than a quarter in August from a year earlier with stricter mortgage lending practices compressing activity, Barfoot & Thompson says. Sales fell 3 percent to 1,003 in August compared to July, and were down 26 percent from the same month a year earlier, the city's biggest realtor said in a statement. Still, the median sale price increased 1.2 percent to $850,000 from a month prior and was 13 percent higher than a year earlier. "The continued r...

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