Fewer Barfoot & Thompson auctions in the last week of winter but the overall sales rate passed the 50% threshold

Barfoot & Thompson's overall auction sales rate nudged past the 50% mark for the last week of winter, although the number of properties going to auction remained low.

Barfoot's marketed 95 properties for sale by auction last week and sold 50 of them either under the hammer or by 5pm the following day, giving an overall sales clearance rate of 53%.

At the major auctions, sales rates ranged from 46% at the Manukau auction to 69% at the Shortland St auction on 31 August (see chart below).

At the North Shore auction there was a 57% sales clearance rate.

Prices on the properties that sold ranged from $279,000 for an apartment in the CBD to $2.36 million for a house in St Heliers.

The full results with the prices achieved on the properties that sold are available on our Residential Auction Results page.

Barfoot & Thompson Auction Results: 28 August to 3 September 2017
Date/location Sold* Not sold* Total % Sold
28 August - 3 September. On site. 0 2 2 0
29 August. Manukau. 11 13 24 46%
30 August. Mortgagee/High Court auctions. 1 0 1 100%
30 August. Shortland St, CBD. 15 11 26 58%
30 August. Pukekohe. 2 3 5 40%
31 August. North Shore.  8 6 14 57%
31 August. Shortland St, CBD. 9 4 13 69%
1 September. Shortland St, CBD. 4 6 10 40%
Total 50 45 95 53%
*Sold includes properties sold under the hammer or by 5pm the following day. Not sold includes properties that remained unsold by 5pm the following day plus properties that had their auction date postponed or that were withdrawn from sale.

 

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14 Comments

I see we're still playing the small numbers game in terms of volume sold, wasn't it all meant to bounce back in the Spring? Well here we are Spring! Not much has changed has it.

I don't think anybody expected or predicted a bounce back three weeks before an election.

Not that I expect one after however

After the election is where things will get interesting. If no bounce just how will people take that. Hopes are very high. We will finally be at the end of the "what ifs time" very soon. Is there enough demand out there to keep prices flat or lift?. Where will listing numbers go after the election

Expect to see some ex rentals start flooding the market following the recent court ruling that rent had to be repaid where the tenant was found to be living in a house with unpermitted alterations. Owners will be running away from this issue as fast as they can so buyers need to be looking very closey to the building, plans and LIM else they will be stumbling into a whole can of worms as a lot of rentals I have seen look pretty mickey mouse, several in student digs in PN looked like they had been put together by a drunk, obviously unpermitted.

" the recent court ruling that rent had to be repaid where the tenant was found to be living in a house with unpermitted alterations."

Very interesting.....

Does seem rather tricky, that - I guess it's in the vein of selling something that isn't "fit for purpose". Might be something tenants end up keeping an eye on for trying out if their landlord gives them the short shrift.

It doesn't take much imagination to see how the next domino to fall could be the immorality of empty houses during a housing crisis.

How far away is the Chinese New Year?

I'm surprised how active the house market has been - so close to the election.

And in Auckland, there's very little slippage in prices. In fact, some suburbs are still recording increases in average price.

A few pessimists here had been predicting the Auckland housing market would now be in the doldrums - having fallen through the floor by winter 2017........... No doubt some of these people will now respond that a crash is just around the corner..........

The problem for them is that the corner never seems to come. And as time passes, their credibility diminishes.

Pessimists vs Optimists / Red vs Blue / Right vs Left / Auckland vs Canterbury.

Like the latest flick in the Star Wars franchise.

I suspect the only thing the media loves more than a fight is if the news is about themselves.

Keep partaking the medicinal herb...or is it something more hallucegenic...

Hi tothepoint,

You write: "A few pessimists here had been predicting the Auckland housing market would now be in the doldrums - having fallen through the floor by winter 2017"

Please, could you please quote at least ONE instance or ONE person who mentioned that prices would fall through the floor by winter 2017. I'm not even asking for a few .. I just want ONE example. Just ONE.

You have a knack for exaggeration. No one here has said prices would fall to the floor by winter 2017.

Yawn. Agents on life support due to tiny sales volumes. Wait till the election, not long to go, then lets see the impact of a specuvestor taxs, I mean capital gains tax, and a few other targeted legal changes, ring fence etc.

Would expect to see normal investment criteria reemerge (yield) vs. farming debt for tax savings, which also means a decrease in prices further. Procfessional yield focused investors wont blink, specuvstor debt junkies masking income will be crying a river.