There was a 100% increase in the number of properties auctioned by Barfoot & Thompson last week.
Auckland's biggest real estate agency auctioned 141 residential properties in the week of October 2-8. That was almost exactly double the 70 properties auctioned in the previous week, and nearly nine times the 16 properties auctioned in the week of September 18-24.
That suggests auction activity in Auckland is ramping up strongly as we head into spring, in spite of the region remaining under level 3 pandemic restrictions.
And there is good demand from buyers for what is being offered.
Three quarters of the properties offered at Barfoot's auctions last week were sold under the hammer, almost unchanged from 77% the previous week.
This week is likely to be just as busy at Barfoot's online auctions, with the number of properties scheduled for auction at a similar level to last week.
The table below shows the district-by-district results from last week's auctions.
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33 Comments
great to see NZ economy recovers quickly from the COVID says the government.
Poor Xingmo, If real estate is a barometer of the economy, then your motherland is in big trouble.
Both the housing market and the Covid virus have bolted on us.
Diabolically difficult to gain control of either of them.
TTP
...grab a bargain in the most over priced property market in the world, in a country that sits at the end of an increasingly disrupted supply chain and where the impact of covid has yet to come.
Mmmmm . . . . ?
So if it wasn’t significantly constrained by Level 3 what would it have been?
If housing market stops going to the moon government want have no distraction from covid failure that is about to hit us.
We may also see many people wake up question things like why after over 1 year of MIQ have we had only a handful of deaths from all positive arrivals from covid yet we are locking down country at massive cost now and so far we are not seeing death rates spike.
They need to give us firm timeline for re opening and increase spending on healthcare and housing which will benefit manymore people I the long-run.
Imagine if we spent a few billion more on hospitals over last 18 months but I guess that would involve making bold decisions which I fear will never happen.
Becnz
Re: “ . . why after 1 year of MIQ have we only had a handful of deaths from Covid . . .”
I thought it was fairly obvious: we have largely contained Covid and for much of that year eliminated it.
New York hospitals and morgues overwhelmed by a less virulent strain slipped your memory?
Don't discuss covid or the comments section will be closed!
My point is MIQ arrivals if my memory is correct must be over 50000 by now not local infected.
Many many arrivals were positive yet very very few ended up ICU or dead???? so maybe our current lockdown approach is not the smartest way forward as it is still spreading and will reach most if not all corners of NZ well before Xmas.
I feel we need to be more open to living with it but as most here know our hospitals are clearly lacking any spare capacity hence why we are locked down.
I would love to know if we had say double current ICU and more nurses and doctors would we be in such a hard lockdown.
Well delivered question. Hopefully you haven’t “ruffled too many feathers “ in asking it.
What a bizzare situation...
Question?
How come yesterday’s Post “Existing alert levels to remain in place”, seems to not able to be commented on, or am I missing something?
They've shut down comments on Covid posts.
Wow!! What does that tell ya?
Probably because of all the angry comments and speculations. Comments on this website can be toxic sometime.
JT still wants to ask questions of JA and not be banned like The Hosk
It's called "debate" - we used to think that the exchange of opposing views (sometimes robust) was a normal part of a free society.
Anyway until they reverse the policy, i won't be rewarding the site with any clicks.
There is a decided difference between debate and monotonous repetitive bitching.
Why was there no cooments box allowed after PM press conference report yesterday? Are people making too many off message remarks and asking questions?
Because we just get the same back-and-forth with the same points every single time Covid policy comes up. No one learns a damn thing and it's tiresome.
Basically its censorship. Anything antivax is off the table and will be removed. The government is still pushing lockdowns when I hear yesterday that NSW is at 72% and they are having re-opening parties. Meanwhile we are chasing the impossible 90% rate.
Be quick read this before its gone.
Because we're not allowed to question the PM on Covid
Be quick
See the "Unite Against Covid" banner is gone. Has this site been booted off the Covid gravy train because commenters weren't following the one source of truths narrative? (Asking for a friend).
The CCP are now running our Covid response, be very careful your friend could just "Disappear"
Maybe a joke, but it's probably comments like this as to why Interest turn off the comment sections.
Interest should probably close commentary for these articles too, as they are not much better than what you see in the Covid threads.
https://i.stuff.co.nz/business/126633477/house-prices-rise-in-all-regio…
All Data / News suggests that house price ponzi is touching new height every week....still Mr Orr is in denial mode with wait and watch approach and Jacinda taking a cover behind pandemic.
We are in October and in March Mr Orr lied that he had data / information that market is cooling.
Is he one of the biggest Manipulator and lier or should we say pathological liar.
Waiting is a cost.
Waiting to buy an ideal house costs the undecided thousands a month.
Be quick.
I used to believe it would all end in tears.
I'm no longer convinced. It could just as likely end in more gated communities for those with assets, and more Work and Income benefits for those that don't.
It honestly feels like that's the game-plan.
I don't think it's time to sing auld lang syne.
This is a free country; people get to choose.
I would choose to not have a widening poverty gap and spiralling crime rate then.
Nobody will be immune to the effects of those.
Not hard to list and sell more properties at auction when the majority of listings are going straight to auction. The market isn't frying it's just on simmer inside a pot with a lid on. We all know auctions pump our FOMO, so prices increasing in line with auction listing rates is an obvious consequence.
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