Just over a quarter sold at Barfoot & Thompson's latest auctions

Property

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

2nd Jul 19, 9:48am by Greg Ninness

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One property was withdrawn from sale and six had their auction date postponed, with the rest passed in for sale by negotiation.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.

The comment stream on this story is now closed.

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Date	Venue	Sold	Sold prior	Sold post	Not sold	Withdrawn	Postponed	Total	% Sold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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35 Comments

by Yvil | 2nd Jul 19, 9:53am 1562018017

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.

by Chairman Moa | 2nd Jul 19, 10:03am 1562018594

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

by THE MAN 2 | 2nd Jul 19, 5:01pm 1562043687

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

by Due Diligence | 2nd Jul 19, 5:33pm 1562045637

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

by Cowpat | 2nd Jul 19, 10:18am 1562019518

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

by Joe Wilkes | 2nd Jul 19, 10:53am 1562021616

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

by RickStrauss | 2nd Jul 19, 10:13am 1562019209

You forgot one:

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

by CourtJester | 2nd Jul 19, 11:33am 1562024028

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

by Pragmatist | 2nd Jul 19, 11:40am 1562024451

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

by Glitzy | 2nd Jul 19, 10:24am 1562019872

by Retired-Poppy | 2nd Jul 19, 12:03pm 1562025786

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!

by Yvil | 2nd Jul 19, 1:19pm 1562030382

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

by Retired-Poppy | 2nd Jul 19, 3:01pm 1562036501

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.

by Yvil | 2nd Jul 19, 6:25pm 1562048728

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

by Retired-Poppy | 2nd Jul 19, 7:08pm 1562051335

"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&…:

by Voiceofreason | 2nd Jul 19, 3:15pm 1562037327

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

by mikekirk29 | 3rd Jul 19, 5:40pm 1562132459

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

by Glitzy | 2nd Jul 19, 10:13am 1562019215

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

by custard | 2nd Jul 19, 10:23am 1562019822

Whangarei can only go up – done!

by Glitzy | 2nd Jul 19, 10:30am 1562020252

Love it :)

by Chairman Moa | 2nd Jul 19, 10:35am 1562020545

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

by Glitzy | 2nd Jul 19, 10:47am 1562021278

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

by Chairman Moa | 2nd Jul 19, 10:50am 1562021459

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

by Pragmatist | 2nd Jul 19, 12:44pm 1562028288

Makes an Amway meeting sound positively enjoyable..

by CourtJester | 2nd Jul 19, 11:35am 1562024102

Great investment opportunities on the outskirts of Palmerston North!

by Chairman Moa | 2nd Jul 19, 12:52pm 1562028749

Bunny Thorpe?

by RickStrauss | 2nd Jul 19, 10:21am 1562019663

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.

by alittle | 2nd Jul 19, 10:41am 1562020903

........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....

by richard1965 | 2nd Jul 19, 10:46am 1562021200

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.

by Dgm | 2nd Jul 19, 2:03pm 1562033007

DISMAL!!!

by THE MAN 2 | 2nd Jul 19, 5:12pm 1562044327

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.

by Glitzy | 2nd Jul 19, 6:19pm 1562048342

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

by Retired-Poppy | 2nd Jul 19, 8:12pm 1562055143

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?

by blobbles | 2nd Jul 19, 9:49pm 1562060946

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

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

by FamilyGuy | 3rd Jul 19, 8:40am 1562100059

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/docu…
Cheers.