Auckland Property Market Continues to Crank

Barfoot & Thompson, Aucklands largest Real Estate firm has announced “In July we sold 998 homes for an average sales price of $591,444,” and that “This number of sales was at the very top end of the scale for recent years.” This compared with 778 properties in July 2011.

The firm’s total sales equated to $590M for July 2012 well up on the $412M of July 2011.

The 4 year fixed interest rate special of 5.79% with ASB has now expired. The Bank also released its year to June 30 numbers with headline profit up a stellar 21% to $685M. Total lending stood at $53B and total deposits a shade under $39B. Impairment losses on loans fell to a paltry $47M.

Westpac is running a 1 year fixed interest rate special of 4.99% provided your loan is less than 80% of the value of the home.