January 2022 Housing Market Update
| Time period | Number of sales* | Total value of sales |
|---|---|---|
| January 2022 | 801 properties | $985,695,444 |
| January 2021 | 1086 properties | $1,159,994,534 |
| 12 months to Jan 2022 | 13,264 properties | $15,369,961,774 |
| 12 months to Jan 2021 | 12,472 properties | $12,639,766,259 |
*Includes Barfoot & Thompson Auckland residential sales that have gone unconditional. Excludes Northland and commercial sales.
Auckland Property Market Starts Year In Line With Expectations
Residential property sales in Auckland were in line with normal trading patterns for the first month of the year and showed no signs that prices are under pressure from trading bank lending practices or rising interest rates.
“January trading was very much in line with expectations for the first month of the year,” said Peter Thompson, Managing Director of Barfoot & Thompson.
“Prices eased marginally from those recorded in December, which is common, sales numbers were excellent and new listings were healthy.
“Direct comparisons with trading over the past two years are challenging because throughout 2020 and 2021 trading was disrupted by Covid lockdown restrictions.
“However, based over a five-year trading horizon January’s sales numbers have set the market up for a positive late summer and early autumn trading season.
“The average sales price for the month at $1,230,581, while down 3.8 percent on that for December, was 15.2 percent higher than at the same time last year.
“The median price at $1,180,000 was down 4.5 percent on December’s but 21 percent higher than in January last year.
“Sales for the month at 801 were down by more than a quarter on those for last January, but trading last January was abnormally high due to coming out of lockdown. This January’s sales number is significantly higher than those for the four years preceding 2021.
“New listings for the month at 1135 were strong, and we ended the month with 3827 properties on our books, giving buyers a level of choice not seen for 15 months.
“The rural and lifestyle property markets to the north, south and west of Auckland experienced their most active January trading in the past decade, recording close to $114 million worth of sales during the month.”
Barfoot & Thompson knows Auckland best. It is the city’s leading real estate company, selling around one in three Auckland residential homes, significantly ahead of all other competitor brands.
For further information, contact Peter Thompson, Managing Director, Barfoot & Thompson, telephone 09 307 5523 or 027 453 593. www.barfoot.co.nz.
Released on behalf of Barfoot & Thompson by Network Communication (Dennis Lynch) telephone 021 963 733 Dennis.lynch@networkcommunication.co.nz
| January | Previous Month | Previous 3 months Average | January 2021 |
|---|---|---|---|
| Average Price $1,230,581 |
$1,278,647 -3.8% |
$1,239,493 -0.7% |
$1,068,134 +15.2% |
| Median Price $1,180,000 |
$1,235,000 -4.5% |
$1,208,000 -2.3% | $975,000 +21% |
| Sales 801 |
911 -12.1% |
969 -17.3% |
1086 -26.2% |
| New Listings 1135 |
948 +19.7% |
1895 -40.1% |
1378 -17.6% |
| Month-End Stock 3827 |
3646 +5% |
3540 +8.1% |
3131 +22.2% |
