New zealand sales hit 15-year high

Sales of New Zealand property have hit their highest level recorded in an August for more than 15 years, according to agents.

The latest figures from Barfoot & Thompson show that sales numbers in the month hit 1,314, 44.6 percent higher than in August last year.

"August can be a slow month for sales, but this year it was the third busiest sales month for 16 months," says Peter Thompson, Managing Director of Barfoot & Thompson.

"The number of new listings in August at 2123 were exceptional, the highest number in any month for more than 10 years. In spite of this, the number of available properties at month end at 2957 were only modestly higher than July’s 2,802."

Sales of properties in the million dollar plus category (375) were the third highest on record, while properties in the under $500,000 category at 14.3 per cent of all sales were "in line with those for previous months".