The sales rate was above 50% for the second week in a row at Barfoot & Thompson's auctions last week, although the number of properties being auctioned remains low.
Barfoots marketed 80 residential properties for sale by auction in the week of 12-18 August and achieved sales on 43 of them, giving an overall sales rate of 54%, almost unchanged from the 55% sales rate achieved the previous week when just 65 properties were marketed for auction.
Of the 43 properties that sold last week, 35 sold under the hammer, five were sold prior to their auction and three were in negotiations sold immediately after their auctions.
The higher level of sales evident over the last couple of weeks appears to be reasonably uniform, with the sales rate dipping below 50% at just three of the auctions, and they were all minor affairs with three or less properties on offer.
At the big auctions where at least 10 properties were offered the sales rates ranged from 50% at the Manukau auction to 63% at the North Shore auction.
The higher sales rates of the last two weeks have coincided with moves by the Reserve Bank to cut interest rates, although that may be coincidence.
And while it's too early to say that the latest results indicate the start of the usual spring lift in sales, the market is certainly starting to look a bit more interesting.
The table below summarises the full results achieved at Barfoot's auctions last week, and 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 12-18 August 2019 | |||||||||
| Date | Venue | Sold | Sold Post | Sold Prior | Not Sold | Postponed | Withdrawn | Total | % Sold |
| 12-18 August | On-site | 2 | 1 | 2 | 1 | 6 | 50% | ||
| 13 August | Manukau | 7 | 2 | 8 | 1 | 18 | 50% | ||
| 13 August | Shortland St | 1 | 1 | 2 | 4 | 50% | |||
| 14 August | Mortgagee/Court | 2 | 1 | 3 | 67% | ||||
| 14 August | Shortland St | 10 | 1 | 9 | 20 | 55% | |||
| 14 August | Pukekohe | 1 | 2 | 3 | 33% | ||||
| 15 August | North Shore | 8 | 2 | 5 | 1 | 16 | 63% | ||
| 15 August | Kerikeri | 1 | 1 | 0 | |||||
| 15 August | Shortland St | 3 | 1 | 2 | 6 | 67% | |||
| 16 August | Shortland St | 1 | 1 | 1 | 3 | 33% | |||
| Total | All venues | 35 | 3 | 5 | 32 | 1 | 4 | 80 | 54% |
You can receive all of our property articles automatically by subscribing to our free email Property Newsletter. This will deliver all of our property-related articles, including auction results and interest rate updates, directly to your in-box 3-5 times a week. We don't share your details with third parties and you can unsubscribe at any time. To subscribe just click on this link, scroll down to "Property email newsletter" and enter your email address.
We welcome your comments below. If you are not already registered, please register to comment
Remember we welcome robust, respectful and insightful debate. We don't welcome abusive or defamatory comments and will de-register those repeatedly making such comments. Our current comment policy is here.