As commented by Peter Thompson from Barfoot & Thompson, April saw the Auckland housing market retracting half the gains accumulated in March, although sales continued their forward momentum since the low point in July last year. Despite not matching March’s breakout result, April’s trading constituted a solid performance, ensuring the market’s continued progression from its nadir in July last year,” noted Peter Thompson.

“Since the beginning of the year, the median price has risen by 4.2 percent, with the average price increasing by 11.9 percent. Compared to the price cycle’s low point, the median price is now up by 6.1 percent, with the average price showing a 13.7 percent increase,” Peter Thompson pointed out.

“The median sales price for April, at $1,007,500, experienced a 1.3 percent increase compared to 12 months ago but dipped by 4 percent compared to March, while the average sales price, standing at $1,212,828, marked a 1.2 percent decrease from March,” commented Peter Thompson.

“Despite this, April’s average sales price reached its highest level ever, surpassing even the peaks seen in 2021 and 2022,” added Peter Thompson.

“Sales numbers for the month totaled 704, down by a third from March but representing the highest April figure in three years,” observed Peter Thompson.

“From a buyer-choice perspective, the housing market remains favorable to buyers, with the number of properties listed at month-end surpassing 5,000 for the third consecutive month,” highlighted Peter Thompson.

“Total listings benefited from 1,580 new listings in April, a three-year high for the month. Sales at the top end of the market remained robust, with 57 sales valued at $2 million or more, constituting 8.1 percent of all sales,” mentioned Peter Thompson.

“In the Rural and Lifestyle markets, property sales in April amounted to $40.2 million, nearly a 50 percent increase from the previous April. Despite this, available properties for sale remain high in these markets,” concluded Peter Thompson.