Auction numbers were feeling the winter chill but sales rates held their own at Barfoot & Thompson's latest residential property auctions.
The agency had 120 properties scheduled for auction last week and achieved sales on 47 of them, giving an overall sales clearance rate of 39%.
At the main auctions where 10 or more properties were offered, sales rates ranged from 26% at the North Shore auction to 55% at the Shortland Street auction on 27 June, where most of the properties offered were from central Auckland or central-fringe suburbs such as Kohimarama, Remuera, Sandringham and Onehunga.
A notable result was Pukekohe, where just six properties were offered but four of them were sold, giving a clearance rate of two thirds.
The table below summarises the auctions, while details of the individual properties auctioned and the prices achieved on most of those that sold are available on our Residential Auction Results page.
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Date | Venue | Sold | Not sold | Total | % Sold |
25 June - 1 July | On site | 2 | 3 | 5 | 40% |
26 June | Manukau | 7 | 12 | 19 | 37% |
26 June | Shortland St, CBD. | 3 | 4 | 7 | 43% |
27 June | Whangarei | 1 | 2 | 3 | 33% |
27 June | Shortland St, CBD. | 11 | 9 | 20 | 55% |
27 June | Pukekohe | 4 | 2 | 6 | 67% |
28 June | North Shore | 9 | 26 | 35 | 26% |
28 June | Shortland St, CBD. | 4 | 7 | 11 | 36% |
29 June | Shortland St, CBD. | 6 | 8 | 14 | 43% |
Total | All venues | 47 | 73 | 120 | 39% |
7 Comments
Further evidence that auction clearance rates are a bit higher these days. Interesting that this should happen, especially in mid-winter......
Who knows how long it will last, as the market seems likely to remain relatively flat for the foreseeable future.
The strong result in Pukekohe may be a reflection of strengthening activity among first home buyers - which, as noted elsewhere, has the impact of skewing average prices down.
TTP
Yes, more recently, auction clearance rates have also ticked up a little in Sydney and Melbourne. Prices weakening by the month. Their average auction clearance rate is still much higher than ours - in the mid 50s!
Wow, that is roughly 6% increase from last time of 33%.
Ladies and gentlemen, we have definitely turned the corner and are now facing the oncoming traffics
A good week for the property market as there were no failed sales at the mortgagee auctions.
Thanks Nic,
Agree that it's good to celebrate this sort of success - in particular.
Best,
TTP
As predicted sales back in the 30s
North Shore looking particularly weak
Yes - the somewhat compulsory "third" reappears,
Poor old North Shore - ECBays in particular - I hate to think what was really going on there over the last few years.
Next stop Spring - could make a liar out of some of us - which way will it go?
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