Thompson said sales momentum in the Auckland market grew quietly in the first two months of the year but buyers looked through potential short-term economic shocks in March.
“While March’s sales are not signalling an end to the Auckland property market’s two-year static performance, it underlines that even in challenging economic times there is confidence in the medium-term future of the housing market,” he said.
“New listings for the month at 2094 were in line with those for the same month last year, and we had 6307 properties on our books at month’s end – also in line with the same number for March last year.”
Thompson said a feature of March’s sales was the strong representation of sales in the $2 million-plus market.
“For the first time in four years, we sold more than 100 homes in a month in this price segment,” he said.
“While the share of sales under $750,000 declined in March, the number of sales in this segment remained steady at 241, in line with February.”