5 May 2010

Real estate sales drop described as lower this time

11:11 am on 5 May 2010

The largest real estate company in Auckland says a seasonal drop in property sales and prices is not as large as in recent years.

Barfoot & Thompson says property sales fell by 27.6% in April to 671 and the average sale price fell 1% from March, to $541,486.

But the average sales price was the highest recorded for an April and $38,000 more than it was in April last year.

Managing director Peter Thompson says prices and volumes traditionally fall at this time of year.

Mr Thompson says new listings fell 22% to 1312, but are about 12% ahead of the previous year.