Archive for September, 2009
July mortgagee sales exceed 300 for the first time
Filed under: Blog, Terralink Mortgagee Sales Report Responses: 0 Comments
Total mortgagee sales for the month of July amounted to a staggering 194% increase over the same month last year. A total of 321 registered mortgagee sales were reported by Terralink in a report issued today for the month of July 2009.
That total for the month takes the year to date figure for 2009 to 1,583. That figure exceeds the total year in the preceding highest year – that being 2001 when in 12 months a total of 1,539 sales were registered.
Each month this year the total has outstripped the prior year by more than 100% and completely dwarfs the 2007 year figures.
Within the total of 321 sales there are a diversity of properties encompassing property development units as well as private residential and investment residential. The traditional view of mortgagee properties being single family homes where the property is family owned and represents the only owned property only represents around 20% of all the sales of mortgagee properties over recent months, although the rate of sale of these properties have equally been rising over recent months.
In terms of regional variation the majority of sales still are represented in the Auckland region. In July 144 of the 321 sales were in Auckland, 26 in Wellington and just 24 sales were reported in Canterbury. The Canterbury region has seen a decline over recent months with the biggest fall in the Christchurch city area where sales have dropped by half since a the June figures. The map below details the sales by region comparing the totals as against July 2008.
Tags: mortgagee
Barfoot & Thompson signal strong Auckland sales in August
Filed under: Barfoot & Thompson Statistics, Blog Responses: 0 Comments
Barfoot & Thompson reported their August sales results showing a strong performance with sales of 830 sales and an average sale price of $532,023. Barfoot & Thompson are the largest real estate group to operate in the Auckland market and provide an early indicator to the likely performance for the country at large.
The sales as shown in the chart below have risen from the trough which perpetuated for much of the 12 months to February of this year when average monthly sales hovered around 550. Whilst this does represent a 50% year on year increase at 830 sales – the figure for August 2006 (936) and August 2007 (765) does provide some perspective.
In terms of average selling price the tracking of price in the region over the past 3 years shows the significant rise through the final year of inflationary pricing in late 2006 / early 2007 followed by the plateauing through the remainder of 2007 before prices began to fall from the peak of December 2007 when the average price reached $559,804.
The current price level of $532,023 represents a 5% fall from peak, somewhat of a recovery from the low point of March of this year when the fall from peak totaled 12%.
Tags: auckland, Barfoot & Thompson, property price, property sales
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