Steve Koerber's Old Blog

Remuera's house sold name since 1998 – 021864166

Posts Tagged ‘property values’

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!

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