Bayleys sold 34 of the 46 Auckland residential auction properties last week, giving a clearance rate of 74%.
In the Waikato, Bayleys sold two out of three commercial properties taken to auction plus a renovated five bedroom house on a lifestyle block that went for $480,000.
Highlights of the Auckland auction rooms included a villa in Parnell that fetched $3.24 million, a two bedroom duplex in Three Kings that went for $790,000 and a two bedroom apartment on Symonds St in the CBD that went for $245,000.
See below for the full results, with photos and details of all properties including those that didn't sell:
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37 Comments
Spending $3m on a house is the hobby of foreign buyers and the 50 kiwis who feature in this years NBR rich list. Oh, and I went to two open homes on the shore and there was almost no one there to keep me company. Very quiet in the working peasant price bracket (sub $1m)
Check out Melbourne results recently also. It doesn't look like there is going to be a lasting slowdown in this part of the world. $3M-$4M for standard inner city houses over there. I read an article today about "residential tourists". Check it out. Could be a whole new can of worms coming our way.
Edit: Can of worms or pot of gold depending on your viewpoint.
The Brisbane market is flat as it has been for several years now. I keep hearing the 'investors heading north' story but its not really showing through in prices or activity. The one exception is probably new build apartments - massive new supply happening, cranes all over the city.
Bloomberg reported today that house sales in Hong Kong have dropped 70% as slowdown intensifies as concern about China increases.
Bloomberg also reported Aussie banks are concerned about corporate loans as defaults in mining, agricultural and dairy sectors increase.
While neither of these articles directly relate to the Auckland housing market - to look at the Auckland housing market in isolation is both foolish and naive.
Read the subtext in this article from Bloomberg on 'overseas' investors receiving Greencards for investing in property... Seen that happen before, somewhere else? Maybe?
http://bloom.bg/1TCMsZe
Guess who's back? Back again! Hot money out of the country up north....
And on a more serious note - https://m.youtube.com/watch?v=YVkUvmDQ3HY
Hi Greg, I don't know how to contact you directly so hopefully you will read thi, I was very surprised:
I subscribe to Robert Ashton's "Rob report" on house sales in Remuera & Parnell. Rob is an experienced, long standing agent at Bayleys. I was surprised, even shocked to read the following data for the latest Median sale price:
Nov 2015 $1.61 Million (70 sales),
Dec 2015 $1.39 Million (also 70 sales),
Jan 2016 $1.00 Million (40 sales).
Not 1 single month of 2015 had a Median sale price as low as Jan 2016.
This is a quite staggering drop !
I'm happy to attach the link in a standard email
Yves
I analyzed 28 of these properties, Auckland homes that were not problematic, 28 in all. Total sale price was 36,032K compared to CV of 25,825K giving an average of 39.52% above CV. The Harcourts, Bayleys and Barfoots auctions all reveal similar ratios for last week.
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