Just over a third of the properties changed hands at Barfoot & Thompson's residential auctions last week, with an overall sales clearance rate of 36%.
The highest sales rate was at the North Shore auctions where 53% were sold, while sales rates at Barfoot's head office rooms in the Auckland CBD ranged from 11% to 45%, and 42% were sold at the Manukau auction.
Prices ranged from $255,000 for an apartment in the Heritage Hotel in the CBD, to just over $2 million for a property in Glendowie.
The full results with the prices achieved on individual properties, are available on the Auction Results page.
Date/Venue | Sold* | Not sold* | Total | % sold |
On site, 19-25 June. | 4 | 7 | 11 | 36% |
Shortland St, CBD, 20 June. | 1 | 8 | 9 | 11% |
Manukau. 20 June. | 8 | 11 | 19 | 42% |
Shortland St, CBD, 21 June. | 9 | 11 | 20 | 45% |
North Shore, 22 June. | 8 | 7 | 15 | 53% |
Shortland St, CBD, 22 June. | 3 | 9 | 12 | 25% |
Kerikeri, 22 June. | 0 | 1 | 1 | 0 |
Shortland St, CBD, 23 June. | 3 | 10 | 13 | 23% |
Total | 36 | 64 | 100 | 36% |
*Sold includes properties sold under the hammer or by 5pm the following day. Not sold includes properties remaining unsold by 5pm the day after the auction, plus those that were withdrawn from sale or that had their auction date postponed. |
37 Comments
What happened here?
7/72 SWANSON ROAD, HENDERSON - sold for $653,000 which is 50k lower than the trademe estimate low of 700k.
https://www.trademe.co.nz/property/insights/address/Auckland/Henderson/…
is the tide turning or was this due to bad weather on auction day?
Zachary Smith, you can watch the Omahu Rd auction I attended on Sunday here, but please don't tell the down-talkers coz they will explode after watching this LOL!
https://web.facebook.com/GavlLive/videos/1371881639534417/?hc_ref=SEARCH
No more finance available. We are sitting on our hands. Not a good thing. Watch residential development stall due to a lack of available funding. Its already starting. The long game still looks good for holding Auckland property. It's probably a good time to buy if you have cash. I don't see how prices can fall much when the supply side is only getting worse.
Without hot overseas money and easy credit, we've now reached a stalemate as the only available money is local. In a perfect world, prices won't fall much if sellers hold onto their stock. Prices won't rise much either as no one is able to buy. Stalemate.
HOWEVER - it only takes a couple of distressed sales in one street to bring the value of the whole neighbourhood down. One bad apple can ruin the bunch.
Yes. See page 13 of latest CoreLogic property report -
Could it be Kiwis earning and paying tax in NZ were never really in the "disconnected from reality" market...?
Those with family money or having sold other assets were probably the only domestic group able to compete against the international money and the leveraged specuvestors. Strong negative growth side will hold off remaining overseas money, and limit future ponzi lending from the banks.
Election 2017 is a seminal moment in the future of NZ for 18-35 year olds. Vote for protection against money not earned and taxed in the NZ domestic economy, or, vote for a life relegated to renting with no hope of ever saving enough for home ownership. This age bracket has the worst voter turnout with over 30% being no shows. Running away to Aussie or the UK is a very weak option now. Get off your lattes, Iphones and squashed Avo and actually vote.
In terms of property, you may have to simply vote for the lesser of evils.
National looks likely - from their refusal to acknowledge any housing crisis exists, and their behaviour over the last nine years - to keep pushing prices up as much as they can. Any young Kiwi Aucklander voting for National is someone voting to #RentTillYouDie.
Yes 1 Sanctuary Point, Sunnyhills on homes.co.nz has a low value was $1,720,000 and it's high value $2,000,000. But it only sold for $1,641,000 at their recent auction.
Would have assumed that it would have sold for a lot higher than that being a 4bed, 2 bath double garage property in a nice area of Auckland. So yes prices are starting to slip.
If you read the sales pitch you get a bit of a clue:
Solid Brick and Tiles structure, and has been tested by time, whether you are a DIY enthusiast or professional builder, take your tools and realise your imagination. You will be surprised.
https://www.barfoot.co.nz/595625
I think that in a bit of a slow down people who are into making money in housing start looking for do ups that they can purchase at a discount. FHB's should look out for these as you may be able to get a bargain right now.
http://www.rbnz.govt.nz/statistics/c30
http://www.rbnz.govt.nz/statistics/c31
http://www.rbnz.govt.nz/statistics/c32
My understanding is that Total lending ($m):
may 17(6,036) > last month(4,558)
may 17(6,036)
this sold pretty quick: http://rwremuera.co.nz/auckland/orakei/100a-coates-ave-11180753/ anyone know the price?
Wow... less than $100k under CV for Mt Roskill (even though it's not the greatest part of Mt Roskill).
63 Albrecht Ave - https://homes.co.nz/app/address/auckland/mount-roskill/63-albrecht-aven…
CV = $785,000
Sold at auction = $883,000
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