Overall sales rate of 40% at Barfoot & Thompson's latest Auckland and Northland real estate auctions

Overall sales rate of 40% at Barfoot & Thompson's latest Auckland and Northland real estate auctions

Activity ticked up a bit in Barfoot & Thompson's auction rooms last week (29 July-4 August), with more homes on offer and the sales rate hitting its highest point in more than a month.

The agency marketed 75 residential properties for sale by auction last week, up slightly on the 69-73 which have been offered over the previous few weeks.

The sales rate was also up, with sales achieved on 30 properties, giving an overall clearance rate of 40%. This was the highest it has been for more than a month.

Only one of last week's auctions had a sales rate below a third, which was the Shortland Street auction on August 2, where two of the eight properties offered, all from west Auckland, were sold.

At the big Manukau auction the sales rate was 33% and at the North Shore auction it was 39% (see table below).

Individual details for all of the properties offered are available on our Residential Auction Results page.

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Barfoot & Thompson Residential Auction Results 29 July - 4 August 2019
Date Venue Sold Sold Post Sold Prior Not Sold Postponed Withdrawn Total % Sold
29 July-4 Aug On-site 1 1   3   1 6 33%
30 July Manukau 4   1 9 1   15 33%
30 July Shortland St 2     1     3 67%
31 July Mortgagee/Court 1     1     2 50%
31 July Shortland St 5     3 1   9 56%
31 July Pukekohe 1   1 3     5 40%
1 August North Shore 7 1 2 13     23 39%
1 August Kerikeri       2     2 0
1 August Shortland St 1     1     2 50%
2 August Shortland St 2     6     8 25%
Total All venues 24 2 4 42 2 1 75 40%

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22 Comments

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Wow ! Boom Time ! Party Time :)

very low volume of auctions now, especially at shortland street, have all the "LOCAL" buyers disappeared

Hi sharetrader,

Yes, being mid-winter in the midst of a flat market, volumes are down.......

That’s hyper-intelligent of you to have figured that out.

TTP

'Flat market' is a euphemism.
It's a weak, falling market.

I saw something recently on how the marginal buyer controls all prices.

Here is a fun one. Indicative of the bottom dropping out of the "top end" market
10 Bragato CV $2.53M
Last Sold Oct 2011 $1.1M
Passed in at auction in May
Marketed without a price, then with a price then a reduced price now at $1.55M
Get yerself a bargain

Hi Country Mouse,

85 Crummer Road, Grey Lynn has an RV of $1,975,000.

It sold at auction today for $2,411,000.

Don’t expect to buy cheaply in Freemans Bay, Ponsonby or Grey Lynn....... There’s a huge demand for houses in those suburbs (close to the CBD) but very few houses on the market.

TTP

Yep, there's money around for the cream of the crop. 30 Martin Ave, Remuera is another that'll go for well over CV (which is 2.625).

Both gorgeous properties beautifully presented in special locations. Bragato not so much

In today's market,mentioning/ highlighting houses going much above RV is cherry picking (as will always have exception) but overall the market is down and falling - will not fall overnight but the downward process is on.

Arguing otherwise will not change reality but if it gives some comfort to think and hope otherwise is most welcome or may go into depression

Meanwhile CoreLogic updated my home value yesterday at 96.1% of CV, or $2,402,500. It's barely changed in months....

Hi TTP. Appreciated your commentary for a while now, are you by any chance a guy called Tim from Palmerston North?

Roughcast built in 1996...I thought it was common knowledge that that might be a leaky...

Given the comment gets the most ups so far, so telling...

CM please let me know if you see a bargain in the Ponsonby area, preferably with sea views, thanks a lot

That’s for sure, Yvil.

Anyone doubting that can visit realestate.co.nz and see for themselves how little is for sale in Ponsonby. And when you take out the apartments, there are very, very few houses to pick and choose from.

In Freemans Bay, the situation is even tighter.....

A pity for people like me, who yearn to buy a modest dwelling there.

TTP

For the life of me – why “yearn” for Freemans Bay.

Is that the best you can do – really?

I was not being sarcastic TTP, I'm genuinely interested in buying a north facing house with sea views in the Ponsonby area if I can get it for a significant discount

Oh poor Kerikeri – c’mon, sunshine and citrus - where’s the love?

Hi Custard,

What’s wrong with Freemans Bay?

It’s walk-to-work, has two large parks, a New World supermarket and all the delights of Ponsonby Road.......

That’s virtually unbeatable from my perspective.

TTP

Ok TTP – nothing personal – and I actually live in the area.

Walk to work – I confess I’m useless in that regard and take the Link into the city (5 mins max).

New World – what a circus – stop with stocking the shelves in the middle of the day – and the home order trolleys clogging the aisles– how much clutter already!

Two large parks – I see just one and enjoy just one – where’s the other one hiding?

And then Ponsonby Road – I grew up in Westmere many years ago (50/60’s) – Ponsonby Road has always been a traffic ridden junk yard to me – but I do understand those that enjoy its hidden delights – my good wife seems well pleased with it on many a weekend.

If I didn’t work in the city I’d throw it away in a heartbeat – I’m a Shore boy.

Hi Custard,

Western Park & Victoria Park are both in Freemans Bay, aren’t they???

If not, they’re both nearby.

TTP

It’s getting late – and I’ll just suggest Western Park is possibly a bit of a stretch – but for the sake of civility I’ll go with it.

Having said that – I’ve never taken a walk up there – perhaps that’s my mistake – and something I should address.

A delightful late evening conversation with you – and let’s look forward to whatever the coming week brings.