The number of homes sold under the hammer took a sharp dip at last week's Bayleys' auctions, with less than half of the Auckland properties auctioned selling on the day and nearly two thirds of the Waikato properties auctioned being passed in.
In Auckland Bayleys auctioned 17 properties in the last week, located from Omaha in the north to Eastern Beach, with eight of those selling under the hammer or shortly after the auction and nine being passed in, giving a clearance rate of 47%.
At Bayleys' Hamilton office, a particularly large auction was held with a mix of 29 urban and rural properties put on the block.
The auction of one of those was postponed and of the remainder, 10 were sold and 18 were passed in, giving a clearance rate of 36%.
See below for the full details of Bayleys' auctions last week, with photos of all properties including those that didn't sell:
6 Comments
Maybe FHBer's can now breath a sigh of relief. And those who bought at the top start getting worried. Markets are markets. They are never guaranteed and that stands for shares ,houses and currency. Those who said the end of the world was coming share markets wise some weeks ago will now be wishing they were buying when those who were panicing were selling. Get ready to pay those agents some solid money if you can manage to get your house sold.
There will always be auctions sharetrader as some agents are very good at persuading vendors to go down that road. One can maybe conclude from the lack of the usual property spruikers on this site trying to talk up the market in Auckland is that they have given up as it is indeed turning and some of them are busy trying to offload some properties as quick as they can.
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