All quiet on the auction front as activity slows to a trickle at Barfoot & Thompson's auctions

All quiet on the auction front as activity slows to a trickle at Barfoot & Thompson's auctions

Activity remained muted in Barfoot & Thompson's auction rooms last week with the agency marketing 85 residential properties for sale by auction with 19 of them selling under the hammer and another four selling immediately after their auction, giving an overall clearance rate of 27%.

One property was withdrawn from sale and six had their auction date postponed, with the rest passed in for sale by negotiation. The table below gives the breakdown of results.

The sales rate got to 40% or more at the on-site auctions and also at the big auctions at Manukau and on the North Shore, but even at those auctions the numbers of properties being offered was relatively low.

And no sales were recorded at the auctions at Whangarei, Pukekohe and Shortland Street on June 27 where the properties offered were from central Auckland suburbs such as St Heliers, Epsom, Remuera, Point England and Sandringham.

Details of the individual properties offered are available on our Residential Auction Results page.

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Barfoot & Thompson Auction Results 24-30 June 2019
Date Venue Sold Sold prior Sold post Not sold Withdrawn Postponed Total % Sold
24-30 June On-site 3     4     7 43%
25-Jun Manukau 3 3   5   3 14 43%
25-Jun Shortland St, CBD 2     4     6 33%
26-Jun Shortland St, CBD 2     8     10 20%
26-Jun Whangarei 0     5     5 0
26-Jun Shortland St, CBD 1     5     6 17%
26-Jun Pukekohe 0     5     5 0
27-Jun North Shore 5 1   6   3 15 40%
27-Jun Shortland St, CBD 0     6     6 0
28-Jun Shortland St, CBD 3     7 1   11 27%
Total All venues 19 4   55 1 6 85 27%

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Let me all save you a lot of time:
Reality is that the housing market is stuffed, everyone knows it's going to go down by 200%
Just look at what happened on Mars 3 centuries ago, we're not duffrent
Houses are crashing because people can't afford them, baby boomers are retiring and my hair dresser told me so.
The parabolic tangent demonstrates the symmetrical anti thesis
You humor me, you're irked, hahaha
Also we live on a finite planet, therefore we're all stuffed anyway.

Nope not in CHCH if you are positively geared, there is stack of money to be made!

Never a truer word has been said, Chairman.
Intelligent investors are doing very nicely!

You've perfectly summarised 90% of the comments ever made on this site's property-related articles

Perhaps you can post Barfoots 27 July Shortland St auction results , so we can make comment.

Or from the June Barfoot Report which was posted without a header for some reason but essentially June volumes are 1/3 down on where they were at the peak of the frenzy.
786 sales in June 2019, compared to
903 in June 2018
855 in June 2017
1168 in June 2016
1167 in June 2015
1037 in June 2014

https://www.barfoot.co.nz/market-reports/2019/june/market-update

You forgot one:

"With recent economic events and the BAN(!!!!) on the CGT the market is likely to take off again any moment now!"

The next bull run can happen any moment now! Buy buy buy!

Heh, only if you like saying "Bye Bye Bye" to your money

.

Yvil, you're now reading more like a sore loser to be honest. Confirmation aside, at least you're being yourself for once. Right from the outset, it was an impossible task for a handful of Spruikers to talk the market up as a diminishing collective - lol!

Calling people names "sore loser" must make you feel better than them RP. Very classy

Class has nothing to do with well evidenced observations! I'm just merely the messenger you are trying to shoot. Anyway, you're no superior a human than me or anybody else. You can't escape/cheat death.

Yvil's achievements for today = NIL.

You're so childish, no wonder you're single

"ouch" thats one classic Yvil revelation right there. My wife of 27 years was as surprised as I was to learn of it :)

https://www.google.com/search?q=foot+in+mouth&rlz=1C1NHXL_enNZ698NZ698&s...

What happened to "insightful debate'? You seem to be ignoring the mounting data here, in favour of these kinds of posts.

What function is it that you feel is served by posting identical piece day after day in same words?

Well I challenge anyone to put a positive spin on these results.

Whangarei can only go up – done!

Love it :)

Pretend you are keen buyer, you can get quite a few free lunches and dinners out of desperate agents...

I like where you are coming from but would you really want to spend dinner with an estate agent ? Free food is only worth so much

Forgot to mention, I had two offers to be picked up from airport..!

Makes an Amway meeting sound positively enjoyable..

Great investment opportunities on the outskirts of Palmerston North!

Bunny Thorpe?

Buyers are getting more for their money in Auckland now, resulting in better overall lifestyles for these buyers than if they'd bought at the 2016 peak. That's good news for Kiwis.

........As activity slows to a trickles......

It has already slowed long time back and continuing further is a worry that may not fall over the edge....

27% sold may be even that was achieved as vendors were able to reduce the price to meet the market.

So picture is bad and getting worst on a monthly basis....Nothing new.

DISMAL!!!

Interest.co have had many posters going on for as long as I have been a poster, stating that the housing market in NZ is going to take big dives, grossly overpriced, poorly built pooh box’s etc.etc.etc.
The fact is that anyone that didn’t take their advice is mega dollars ahead financially for actually getting off their butts and buying property whether it be for their own occupation or as a rental investment!
It now doesn’t matter one iota what any of the property bears say, Reality is that if you haven’t bought then you have probably missed the boat, or you haven’t been able to buy for various reasons!
You can still state what you want to happen to the property market, but the truth is that your history of predicting what the market is going to do has been hopeless to put it bluntly, so you couldn’t rely on anything you are saying now!
If you want to achieve a better financial position, I would firmly suggest that you talk about things with investors that have been successful, I am sure they would be more than happy to discuss things to help you.

I'm curious. How much is "mega dollars" ? How much have you personally actually made from trading property ?

TM2, you say "Reality is that if you haven’t bought then you have probably missed the boat"

Your comment contradicts that of others you've made. If property is indeed such a great buy at today's valuations and will continue to appreciate over time, how can first time buyers miss a boat when there are so many boats to catch in what is clearly a buyers market?

Did you know that boats sink in troubled waters?

Huh? So if you haven't bought already, you missed the boat.

So all young people are screwed? Well, we kinda knew that anyway...

Another loophole for property speculation is closed. Government has ended negative gearing. The law was passed last week. Now, speculators can not offset their property losses from income elsewhere.

https://www.parliament.nz/en/pb/bills-and-laws/bills-proposed-laws/docum...
Cheers.