Auckland Housing Market – August 2024
Based on the Barfoot & Thompson August 2024 Report
This podcast discusses the latest report data
Q1: How did the Auckland housing market perform in August 2024?
A1: August 2024 saw positive signs of a recovering housing market in Auckland. Sales volume was strong, exceeding expectations and reaching the highest point for August since 2021. While prices remained stable, showing a slight dip year-on-year, there’s growing confidence in the market’s upward trajectory moving forward.
Q2: What were the key indicators of this positive trend in August?
A2: Several factors point towards a positive trend:
- High Sales Volume: 889 properties were sold, marking the highest August sales figure in three years.
- Strong New Listings: 1,454 new listings entered the market, indicating growing seller confidence.
- Stable Prices: While slightly lower than July 2024 and August 2023, both the median and average prices remained relatively stable, suggesting a balanced market.
Q3: How do the August 2024 figures compare to August 2023?
A3: August 2024 outperformed August 2023 in terms of sales volume and total value:
- Sales Volume: Increased by 1.1% with 889 properties sold compared to 879 in 2023.
- Total Sales Value: Rose significantly by $38 million, reaching $984.8 million compared to $956.7 million in 2023.
Q4: What is the median house price in Auckland as of August 2024?
A4: The median house price in Auckland for August 2024 was $952,500. This is a slight decrease of 1.8% from July 2024 and 3.1% lower than August 2023.
Q5: What is the average house price in Auckland as of August 2024?
A5: The average house price in Auckland for August 2024 was $1,107,837. This represents a 1.6% decrease compared to July 2024 but a 1.8% increase from August 2023.
Q6: What is the outlook for the Auckland housing market in the coming months?
A6: The outlook for the Auckland housing market is optimistic. With growing confidence among buyers and sellers, coupled with stabilizing prices, experts predict a strong spring and summer season. Easing mortgage interest rates are also expected to contribute to increased market activity.
Q7: Did the rural and lifestyle property market in Auckland see any notable activity in August?
A7: Yes, the rural and lifestyle property market experienced its second busiest month of the year in August 2024, reaching a total sales value of $56 million.
Q8: Where can I find more information about the Auckland housing market?
A8: For more detailed information about the Auckland housing market, you can visit or reach out to local real estate agent Darren Ryder at 021 307 014 or visit his website at darrenryder.com.
