Steve Koerber's Old Blog

Remuera's house sold name since 1998 – 021864166

Posts Tagged ‘property prices’

Prices falling in Auckland by how much?

Posted by Steve Koerber on August 6, 2008

Regarding prices falling, I understand a Meadowbank house that a colleague and I auctioned yesterday in Meadowbank was on TV3 News last night. Apparently the commentary said that the house would have sold around $900,000 at the peak of the market (last year) and couldn’t get $700,000 yesterday. Bidding stopped at $681,000 and current negotiations are into the $700,000s. Last year the owners paid $775,000 so I don’t know where they got $900,000 from. Don’t let the truth get in the way of sensationalism though eh! And by the way $775,000 minus 9% would be $705,250. This vendor will do better than the average punter when this deal is closed soon.  View the factually incorrect video here

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Auckland residential property prices have doubled every nine years since 1954

Posted by Steve Koerber on January 19, 2008

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Every year since 1954, Barfoot & Thompson, Auckland’s oldest and largest real estate company, has recorded the annual average sale price of residential property in Auckland.

View graph here:  Auckland residential property is a proven performer

Have a look at the attached graph that shows the rise and rise of Auckland prices.  It is quite remarkable.  Over the last 53 years only a handful of years were negative.  Most years saw positive growth.  According to these numbers, residential property has doubled in value about every nine years.

You’ll notice that this graph ends in 2007.  The 2008 average sale price was $513,000.  So far in 2009 the average sale price is $510,000.  Enjoy!

Posted in Buying a home, Remuera Sales Statistics, Selling your home | Tagged: , , , | Leave a Comment »