Bayleys sold 14 of the 26 Auckland homes it auctioned this week, with 12 properties passed in, giving a clearance rate of 54%.
And Bayleys' Hamilton office sold six of the 10 Waikato properties it auctioned, giving a clearance rate of 60%.
The cheapest Auckland property was a two bedroom home unit in Te Atatu South that sold for $525,000, and the most expensive was a lifestyle property on the waterfront at Mahurangi which went for $2.25 million.
In the Waikato a character bungalow at Leamington near Cambridge sold for $400,000 and a large homestead in need of renovation on a lifestyle block at Matamata was sold at mortgagee sale for $722,000.
See below for the full results of Bayleys' latest weekly auctions in Auckland and the Waikato:
8 Comments
Three months ago 80% to 90% of homes sold under the hammer. Now most properties seem to come on with an asking price if they are a failure at the auction. Sydney also now suffering from a very low auction sell rate http://www.domain.com.au/news/clearance-rates-under-pressure-as-spring-…
Also note that the number of homes listed in Auckland on trademe has jumped 35% in a very short timeframe. The bubble could be deflating.
Anecdotal evidence:
I attended the Barfoot auctions on Shortland St in Auckland on Friday morning.
I stayed for 10 auctions, of which only 2 sold, and only 2 others attracted any bids. There weren't many people. This is a stark contrast from when I was last there almost exactly a year ago, the auction room was standing-room only.
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