November's auction activity slightly down on last year but the sales rate was higher

Property

Sales are being achieved on just over half the properties offered at auction compared to just over a third a year ago

7th Dec 19, 9:16am by Greg Ninness

November's auction activity ended up being slightly down compared to the same period of last year.

Interest.co.nz monitored 1165 residential property auctions over the period form November 1-29, which was down 7.5% compared to the equivalent period (November 2-30) of last year.

However there was a strong pick up in activity in the second half of November this year, which means it's still possible that pre-Christmas summer auction activity could end up being ahead of last year.

Scheduled auction activity in December looks reasonably strong, but with just two weeks to go until auctions all but come to an end until late January, we will have to wait and see.

However while total auction numbers were down compared to last year, sales numbers were up.

Interest.co.nz recorded 616 sales in the period from November 1-29, giving an overall sales rate of 53%.

Auction sales rates have been steady at about the 50% mark for the last several weeks.

That compares with an overall sales rate of just 36% in November last year.

Details of the individual properties offered at the auctions monitored by interest.co.nz are available on our Residential Auction Results page.

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91 Comments

by printer8 | 7th Dec 19, 9:37am 1575664625

Most going for over their RVs - an indicator that the market is firming.

by tothepoint - d… | 8th Dec 19, 12:37pm 1575761844

DGM go up in a puff of smoke........

TTP

by printer8 | 7th Dec 19, 12:59pm 1575676774

TTP
Don't live in hope! There will be a twist - "we are just heading for a bigger and bigger bubble burst". :)
They also won't being acknowledging that maybe their slowly leaking bubble (for up to eight years by one person) and as such FHB should wait, and wait, and wait and put their lives on hold until the market bottoms hasn't proved to be correct. The auction figures here show that the majority of properties that sold did so over 2017 RVs so the bottom of the market may have passed.
The range of current drivers suggest continuing firming Auckland market and - sadly - affordability for FHB might not be any better than currently.
I am sure that this post will provide some bait for the DGM.

by tothepoint - d… | 7th Dec 19, 1:19pm 1575677986

I know, printer8.

Accordingly, I have changed the DGM acronym from “doom & gloom merchants” to “doom and gloom morons”.

TTP

by Houseworks | 7th Dec 19, 2:31pm 1575682285

"doom and gloom morons"
You are SO right TTP. Was talking to a previous tenant yesterday. Very good and very nice people, they didnt bother to save even though they have been on cheap rent with their current 5 year landlord. They now have a child and one on the way and they would like to own a home... I felt a bit mean reminding her that in 2014 I said they should seriously look at buying a home which were then 350ish and no LVR restrictions in Hamilton and they didnt have kids. It is still possible for them to buy and own but a much steeper hill to climb.
Edit: it's strange, when houses were cheap people thought they didnt need to own and had no urgency to doing something. But then when houses went up and they are out of reach, people suddenly realise the importance of owning. Housing demand goes up

by printer8 | 7th Dec 19, 2:52pm 1575683541

Hi Houseworks
I trust that young potential FHB take note of your very appropriate comment. Highly recommended.
Those who advocate FHB hold off due to the risk of a bubble burst (CJ099 is one such person) don't recognise a more highly probable risk - that is being left behind in terms of home ownership.
The risk of a bubble burst has some risk, but one's bank will be assuring themselves in their vested interest, that the borrower can survive a likely change (i.e.currently can meet the test of a 7% mortgage rate). The reality is that even a 2 or 3% increase in house prices which is a very highly event and risk to FHB will mean that home ownership will outstrip their ability to save.
I have often posted about FHB not putting their lives on hold without spelling it out - delaying children is one of the costs of putting one's life on hold.
The most important thing to success in life is about making sound decisions. clearly the couple you speak of have not made sound decisions on to accounts; firstly deferring home ownership and secondly having children before they have a home for their own and their children's security.
I have always advocated a balanced life.
A balanced life with sound decision making for a young person or couple in order is:
- get a sound qualification whether it be academic or trade as that will be a step for the rtest of one's life
- take a break and experience life whether it be travel or OE
- jointly save to get that home while one has two incomes and no commitments, and
- start a family with the security (both emotional and financial) of one's home.
Sadly, the couple you mention. and point out, will find it difficult to achieve the emotional and financial security - and the intrinsic value of owning one's home.
Fortunately over the past three years RBNZ figures show over 75,000 mortgages for FHB (110,000+ people?) so many young are making the right choice. However, unfortunately there are some losers by their own choice and decisions.

by J.C. | 7th Dec 19, 7:03pm 1575698596

Fortunately over the past three years RBNZ figures show over 75,000 mortgages for FHB (110,000+ people?) so many young are making the right choice.

The "right choice" based on what benchmark? That house prices have gone up? What if house prices had gone down? Would that mean it was a "wrong choice"?

However, unfortunately there are some losers by their own choice and decisions.

What is your benchmark to classify people as "losers"? It is definitely not a good situation when housing costs are increasing faster than people's ability to earn. That is no reason to classify people who are likely to be starting off early in life as "losers." I think you're just engaging in some smug trolling with a spiteful edge.

by frazz | 8th Dec 19, 9:20am 1575750047

"They didnt bother to save"....did you know there financial situation? Must be great on your lofty perch preaching to others to get into the market. They probably made a decision like let's forsake house and have kids as we cannot do both. I did the opposite.

by Houseworks | 8th Dec 19, 10:01am 1575752485

Didn't you read correctly frazz.... I had a conversation with the wife of the couple. She rang me up looking for help so I asked her a few questions to ascertain their position. The hubby had texted me out of the blue, he could not call as he has to work two jobs and extra hours to pay the bills of a growing family and wife not working due to pregnancy. It's the DGM thinking in a nutshell, to not see the importance of owning a house when young. Either thinking that renting is suitable vis-a-vis shamubeel eaqub or that houses are overpriced and they will drop substantially in price so then they will jump in

by frazz | 8th Dec 19, 10:08am 1575752888

You still don't get it..maybe they both had student loans to pay off...raising a $100k deposit with a young family, great if you can do it but would take this couple years if she was a stay at home mum ( in my day this was the norm in the hard boomer times). Take the blinkers off as unless they move to a low cost town with no job prospects they are probably renting for life..as per statistics show.

by Houseworks | 8th Dec 19, 10:19am 1575753588

You dont get it frazz nor do you want to. These people were tenants of mine for over two years so I know a bit about their background. They both worked and had reasonable secure incomes. Double income no kids. Back in the day, 2014 and 2015 not years and years ago the Hamilton median house price was 350k and there were no LVR restrictions yet. You are wrong to say they would require 100,000 deposit. I told the experience as a pitfall that others can find helpful just saying.

by frazz | 8th Dec 19, 10:33am 1575754388

Did they have student loans and what was their combined income? Maybe they did not see the rapid rise in house prices being 9 x their income? They were probably relaxed like you were at their age looking forward to both house and raising a family. Sick to death of the gilded boomers preaching their wise words when all you did was buy a house at 2 to 3 times your income. Well done

by Houseworks | 9th Dec 19, 9:40am 1575837618

Offence comment deleted. Please mind your language -Ed.

by frazz | 9th Dec 19, 9:41am 1575837682

Offensive comment deleted. Please mind your language -Ed.

by Houseworks | 8th Dec 19, 2:02pm 1575766972

by Pragmatist | 8th Dec 19, 2:35pm 1575768913

Most sensible post of yours in ages.

by Houseworks | 8th Dec 19, 2:54pm 1575770052

by mikekirk29 | 7th Dec 19, 6:18pm 1575695883

Charming. Is this sort of insult allowed by moderator on here?

by Dogboy | 7th Dec 19, 6:35pm 1575696934

I was thinking that

by BadRobot | 7th Dec 19, 7:27pm 1575700027

I do wonder if this breaches Harmful Digital Communications Act 2015 - perhaps a complaint should be made.

https://communitylaw.org.nz/community-law-manual/chapter-27-harassment-…

by Fritz | 7th Dec 19, 8:42pm 1575704570

Calling people 'morons' is pretty low. Disappointing if this is tolerated, to be frank.

by CN | 7th Dec 19, 9:46pm 1575708386

If people choose to resort to name calling & ad hominem statements, that is a reflection of the person making the statement. That is bullying and that behavior would be unacceptable by responsible parents with their children.

by Houseworks | 7th Dec 19, 10:15pm 1575710118

They must be low intelligence people, the type that invests in properties. You know

by BadRobot | 7th Dec 19, 10:27pm 1575710827

Your're the one who said it. I'm more curious why people need to resort to name calling and insults - perhaps a nerve is being hit. Just saying.

by CN | 9th Dec 19, 12:21pm 1575847313

The issue is not whether you agree with them on the future of house prices, or whether you own investment property. The issue is that name calling is disrespectful behaviour. Do people who choose to resort to disrespectful behaviour, deserve to be treated with respect? How can some who chooses to resort to childish and disrespectful behaviour, be taken seriously by those in the community here who are respectful?

People should treat others how they want to be treated. If people want to be treated with respect, then they should choose to be respectful to others. If people choose to treat others with disrespect, then those people have lost the right to be respected by others and if those people want to be respected again then those people will need to earn the right to be treated with respect. It's entirely their choice.

by Dogboy | 7th Dec 19, 6:36pm 1575697008

Oxygen thieves

by CJ099 | 7th Dec 19, 10:10am 1575666631

Wow that's a big price tumble: 282A Coatesville Riverhead Highway, Coatesville, Auckland. Rating Value: $3,400,000 (July '17) yet Sold for: $2,300,000

by bw | 7th Dec 19, 10:17am 1575667030

No, no. You've got that wrong. Prices are going for above RV...(That hit me in the eye as well! First two "Withdrawn" 3rd. "Not Sold", and then your example hit the block. But the follow-ons fell back into line - before we hit a good tranche of "Not Sold")

by CJ099 | 7th Dec 19, 10:24am 1575667499

Seems that it's not quite all properties selling above RV, particularly in the multi million bracket. Still there may be a number of Kiwi/Ozzy's looking to relocate to NZ in light of their current situation. I'm sure the REA's will latch on to that one as a way to motivate local buyers with the "fear of missing out". ;)

by Pragmatist | 7th Dec 19, 10:32am 1575667976

32 hyde road seems to have sold for quite a price, $900k above RV.. some places seem to be doing very in the high end market

by bw | 7th Dec 19, 12:51pm 1575676289

"perfect for both dream home-seekers and astute developers. Spanning 1012sqm of fairly flat freehold land."
So halve the land value and add the cost of building on the subdivided sections ( looks like a demo of the existing house as well?), and what do we get? Hope that in the future we can sell 2, maybe 3?, properties where there was one! (NB: I have rellies who have just done this - put two side-by-side 1970's places together in Te Atatu(?) and built 5 out of them ( kept the old 2 and did them up; put 3 down the back), and guess what? They are ALL still for sale! They 'aren't worried', but the cost of holding them is starting to add up. Now. If I'm wrong and interest rates do start to rise,well...)

by printer8 | 7th Dec 19, 3:08pm 1575684518

bw
Sorry; a waste of time.
Conspiracy theorists like CJ009 pick the adnormal situation of any data and neglect the overwhelming pattern or trend. That is essential to continuing to justify their conspiracy theories.

by CJ099 | 8th Dec 19, 10:21am 1575753683

What are you rambling on about P8? What conspiracy theory?? Please explain???

by printer8 | 7th Dec 19, 10:50pm 1575712217

CJ, because of your comments often have a ridiculous leap of belief.
A definition of a conspiracy theory: an explanation of an event or situation that invokes sinister actors when explanations are either lacking or there is more probable alternative explanation.
This from you the other day CJ: "Because we're still seeing a few properties being blatantly purchased at auction in the results for double their 2017 RV property values in an otherwise stagnating market, that's a sure sign of money laundering."
Note a good price is a sure – note “sure” – sign of money laundering.
Possible Rationale:
1. The property may have very significant renovation since 2017
2. The property had unique features and/or there was competitive bidding.
3. A money launderer wouldn’t take a property to auction but would rather prefer a quiet sale.
4. A money launderer would not pay considerably over the top and draw attention to the sale and possible investigation
5. Under new anti-laundering requirements, each of the following are required to do due diligence; the real estate agency (not an agent) at the risk of losing their license, the law firm (not the lawyer) who could lose their practice, and the bank would be under considerable pressure and censure for one property transaction.
But no; it is money laundering.
Not the only time that you have accounted for a firming of prices due to money laundering. New anti-money laundering requirements should be currently putting downward pressure on the market - not providing support.

by printer8 | 7th Dec 19, 10:55pm 1575712508

CJ099
You use the following article supporting your contention money laundering is rife.
Please take time to read it; It is about recent initiatives clamping down on money laundering. These new initiatives are reducing money laundering; from the beginning of this year there is the potential for fines up to $5 million for businesses (such as real estate agencies and law firms), and up to $300,000 and two years imprisonment for individuals (e.g real estate agent or lawyer) and this involves acting in either the sale or purchase of property.
https://www.justice.govt.nz/justice-sector-policy/key-initiatives/aml-c…

by printer8 | 7th Dec 19, 10:47pm 1575712065

CJ
You want me to keep going:
Another conspiracy theory: "Most of central Auckland is owned by dodgy Family Trusts".
Family trusts are legitimate - i.e. formed under legislation related to trusts so are not dodgy (i.e. illegal). There can be many good reasons for a family trusts - multiple owners, to legitimately separate property from relationship property, etc - all legitimate and not dodgy reasons.
My wife owns property under a family trust - quite simply a second marriage and the trust protects the asset in event of her death so that it will rightfully go to her children. Nothing dodgy in that, and one I fully support and think appropriate. A real conspiracy theory to say that it is dodgy.
Your conspiracy theory is a baseless jump in belief - (family) trusts are all dodgy i.e. illegal or involved in illegal activity.

by printer8 | 7th Dec 19, 9:32pm 1575707562

Where are you CJ?
This is not an attack - rather “robust debate” and I have three or four more of your pearlers to go.

by CJ099 | 8th Dec 19, 10:19am 1575753581

Wow that's quite a desperate ramble P8. Firstly I was only pointing out that there had been a very large drop in a property price, with no mention of money laundering. And you have gone on a rather excessive rant nothing to do with my comment on this article. Though you have clearly shown that you are trying to single me out for some reason and have gone on the attack - that's clearly, harassment, trolling and bullying behavior.

by printer8 | 8th Dec 19, 10:20am 1575753658

Read the article yourself CJ!!! I am well aware of it.
Anti-money laundering legislation has been in place since 1 January 2019. You have this great leaps of unsubstantiated belief that as there was previously money laundering it is currently a significant (or only factor) in some properties obtaining high prices at open auction and providing impetus to the current firming of the Auckland market. Complete utter unsubstainiated rubbish. You clearly are well and truly out of touch as to current requirements and what these mean in terms of either buying or selling properties or making substantial deposits or transferring money. Your sweeping generalized comments have no credibility.
And money laundering is just one area of your conspiracy theory - your comments on the legality of trusts are another load of unsubstantiated wild statements.
I am happy to go on with some of your other pearlers. You need to get into the real world and stop pontificating such rubbish.

by Houseworks | 8th Dec 19, 7:52am 1575744778

Hi P8,, apparently when CJ was coming up with an online name he just used the initials of his name Con Job. The 099 represents that he is a cent short of a dollar ... so in that sense you will not get much sense if any from CJ099.
PS don't stop giving us the rest thanks.

by printer8 | 8th Dec 19, 9:50am 1575751829

Hi Houseworks
People such as CJ come onto this site making outlandish statements. To me it undermines the credibility of this site as one for reasoned arguments. If CJ is going to keep making unsubstantiated wild statements then he needs to be challenged.
Cheers

by CJ099 | 8th Dec 19, 10:07am 1575752850

How about you explain why the same facts and figures are on our Government web site in regards to money laundering and also explain why it frequently appears in our national headlines in regards to high value property purchases? How is that "out making unsubstantiated wild statements" as you claim even when it is back up by our own Government website! https://www.justice.govt.nz/justice-sector-policy/key-initiatives/aml-c…

by Houseworks | 8th Dec 19, 10:11am 1575753086

Yes he does and you do it very very well. There are other more pressing things for me than researching answers to their bollocks. The DGM continually froth and splurge their lies hardly without taking a breath, so for me the best answer is the market answer. Enjoy your day P8.

by CJ099 | 8th Dec 19, 10:16am 1575753394

What lies? HW Are you saying the facts on our Government website are untrue? https://www.justice.govt.nz/justice-sector-policy/key-initiatives/aml-c…

by printer8 | 8th Dec 19, 10:24am 1575753849

No CJ.
They are not lies - just your interpretation and inability to comprehend the situation clouded by your love of conspiracy theories.

by CJ099 | 8th Dec 19, 10:42am 1575754971

All I've point out and quoted from is from the NZ Justice website or included articles from the Herald. All my so called claims as you put it have been back up by external reports, so that's facts not conspiracy. Yet you have just ranted incoherently and latched on to the word "conspiracy", as a way to harass and be abusive. Here read it again and process calmly, and remember that $1.35 billion a year buys a lot of property in NZ, that's why they had to clamp down. Quote from the NZ Justice website:-

"Each year about $1.35 billion from the proceeds of fraud and illegal drugs is laundered through everyday New Zealand businesses. These law changes - put in place practical measures to protect businesses and make it harder for criminals to profit from and fund illegal activity. They’ll also safeguard and help New Zealand live up to our reputation as being one of the least corrupt countries and a good place to do business".
https://www.justice.govt.nz/justice-sector-policy/key-initiatives/aml-c…

by printer8 | 8th Dec 19, 11:04am 1575756274

Yes CJ - with your conspiracy theory you are interpreting this as currently the situation.
Yes, that is what previously happened and as you note it "has been clamped down on" (since 1 January 2019) but with your penchant for conspiracy you are substantiating a high price today (November) for a house as auction definitely - yes definitely - as you claim is a sign of money laundering (tremendous leap of belief) and the upturn in the Auckland market (November) as simply due to money laundering (another great leap in belief). Note that the new legislation being in place for the best part of a year would be now putting downward pressure on the market and not upward pressure as you irrationally argue.
Your love of conspiracy theory also has you arguing that all family trust are dodgy and illegal.
Read it - your comments don't have credibility.
One feature of conspiracy theorists is that they are some besotted with their theory they will not accept reality and dismiss rationale argument as "rants".
"Conspiracy theory" is not abusive - it is an adapt description of your comments and one who promotes conspiracy theories is a conspiracy theorist. You have bought that down on yourself with your wild, generalised, unsubstantiated statements. There is only one person who can change that, and it is not me.

by CJ099 | 8th Dec 19, 11:11am 1575756669

P8 You're still latching on to the "conspiracy theory" and just rambling incoherently, making accusations at me for no good reason. The only other comment I made on this site regards to the slight upturn (if there was one) was that more Kiwis/Ozzy might want to move to NZ. Again NO mention of money laundering in my comment?? What is wrong with you?

by printer8 | 8th Dec 19, 11:14am 1575756851

No CJ.
Move into denial now that your wild comments are challenged.
I have been watching your comments with disbelief for some time and I have a couple of other pearlers.

by CJ099 | 8th Dec 19, 11:19am 1575757190

You're just rambling and trying to bully people off this site if they do not agree with you, to the point of harassment and abusive behavior. What is wrong with you?

by printer8 | 8th Dec 19, 11:19am 1575757189

No CJ; this is robust debate. You keep making such comments expect them to be challenged.

by CJ099 | 8th Dec 19, 11:22am 1575757334

What debate? You've just thrown accusations, for no other reason other than to bully and troll me.

by Yvil | 8th Dec 19, 5:11pm 1575778275

Don't waste your time P8

by Yvil | 7th Dec 19, 10:42am 1575668533

About 36% more sold via auction in Nov 2019 over Nov 2018

by mikekirk29 | 7th Dec 19, 7:57pm 1575701858

Whoppee. How many sold IN TOTAL in Sept and Oct, acc to BT? Compared to 2019?
Virtually identical.

by CourtJester | 7th Dec 19, 9:18pm 1575706706

You said many times you don't care about volume. What made you change your mind?

by richard1965 | 7th Dec 19, 10:48am 1575668910

On looking at the Auction result data and houses that have been sold in Bucklandsbeach, Howick and nearby area can conclude that the market is very strong as is evident from house prices going much more than CV specially in million dollar plus category.

148 John Brooke Crescent, Dannemora CV1375000 sold for 1515000
1/230 Bucklands Beach Road, Bucklands Beach CV880000 sold for 922000 and is a 2 bedroom Unit
Flat Bush, 52 Baverstock Road CV1100000 sold for 1100000
Eastern Beach, 33 The Esplanade CV2370000 sold for 2910000
Somerville, 1/28 Wiltshire Place CV1175000 sold for 1376500
Golflands, 14 Golfland Drive CV1130000 sold for 1200000
Northpark, 2/39 Tarnica Road CV97000 sold for 1086000

And can go on. Also above are nor randomly picked but in order of the auction, one after another.

So like it or not current market is very strong. How will it be in future, only time will tell.

As no fundamentals have changed, If and how long will current boom last is a question mark ?

by taimaiakka0 | 7th Dec 19, 11:12am 1575670344

Agree that market is up and strong and it is this properties that are being sold at premium will hold the market as they become a benchmark as is not one off but quite a good number of houses that are being sold under the hammer and are going at good price.

Bad news for FHB, who were already struggling and now with this boom will break the hope unless they want to compromise on quality and that to by paying a premium (As those houses that they can afford - very low end will be the first to hit and not worth buying for FOMO).

No choice for FHB but to wait and hope that MAY BE in absence of any trigger, fall again just like it turned upward in last 2 months (No ecenomy in world is in positive territory and is all supported and promoted by government and reserve bank dole) .

by mikekirk29 | 7th Dec 19, 3:28pm 1575685691

Market in Central Auckland is prepared to pay more. Not whole market.
Why this obsession with auction sales, except for fact that get weekly "hit" on this.

by richard1965 | 7th Dec 19, 4:04pm 1575687856

Will be good if current uptrend is just a jump before the finall fall for FHB (Possible as ecenomy situation has not changed nor any other situation since early this year when market was falling) but currently everything points to poistivity in the market which is very bad for FHB, who were already struggling.

by CJ099 | 7th Dec 19, 6:40pm 1575697215

Yeah until China clamps down again on their capital flight.

by Nzdan | 7th Dec 19, 11:20am 1575670815

100% of properties that sold at auction met the reserve price. 100% of properties that didn't sell at auction didn't meet the reserve price. Everything else is just noise.

by THE MAN 2 | 7th Dec 19, 12:16pm 1575674180

why do people in Auckland get hung up in Rateable values?
They mean nothing as to value of a property and are only used by council for assessing your annual rates.
Many of our rateable values on our properties are out by that much it isnt funny, but we dont care, only a slight problem if it is low and you are wanting to sell.
At the end of the day it is not a registered valuation and doesnt determine a sales value.
A property may have had numerous improvements done to it that arent taken into consideration at all.

by Ex Expat | 7th Dec 19, 12:47pm 1575676029

In Auckland, the last RV was done mid 2017 which was pretty much the peak. Two years of flat/declining and now increasing prices means it’s still reasonably accurate en masse for generic properties e.g. Core Logic estimate my home at 99.6% of RV as of 1/12.

by Pragmatist | 7th Dec 19, 2:25pm 1575681921

So the next Rvs are due mid next year aren't they? Will be interesting to see what the New RVs are compared to the old ones. Probably going to be more like +3-4% rather than the +45% like the 2017 were compared to the 2014 RVs.

by Yvil | 8th Dec 19, 5:14pm 1575778448

Could be -2-3%

by Nzdan | 7th Dec 19, 4:45pm 1575690331

My property has a 2017 RV of $205k. Core Logic value is $320k.

by Due Diligence | 7th Dec 19, 7:55pm 1575701749

by Nzdan | 8th Dec 19, 6:04am 1575738285

by Due Diligence | 8th Dec 19, 8:37am 1575747452

Points well made.

by Houseworks | 7th Dec 19, 3:27pm 1575685635

Hey nzd. If the bids did not meet reserve... (drum roll) the vendor adjusted the reserve. Wow. Take the money and run is a good strategy.

by mikekirk29 | 7th Dec 19, 3:26pm 1575685562

Barfoot & Thompson sales Sept and October 2018: 1606 residential
2019? 1595

is that your idea of an uptick?

by Houseworks | 7th Dec 19, 3:36pm 1575686171

Yes. It is NOT the armageddon that you have been falsely forecasting.

by mikekirk29 | 7th Dec 19, 4:35pm 1575689745

I am too bored to repeat, AGAIN, what I in FACT have said.

by CourtJester | 8th Dec 19, 1:54pm 1575766478

It really shows what kind of person Houseworks is. They don't seem to care about facts, they are just trying to put others down, whatever it takes.

by Houseworks | 8th Dec 19, 2:46pm 1575769603

Stop getting all steamed up like a RUG DOCTOR, relax and enjoy these DOCTOR jokes
Doctor doctor, they've dropped me from the cricket team - they call me butterfingers
• don't worry, what you have is not catching

Doctor doctor, I'm really worried about my breathing
• We'll soon put a stop to that

Doctor doctor, people keep ignoring me . . .
• next please

Doctor doctor, I've got acute appendicitis
• You've got a cute little dimple too

Doctor, doctor, what's the quickest way to get to hospital?
• lie in the road outside

by house hunter | 7th Dec 19, 4:12pm 1575688339

The 2019 figures are pretty good if you believe there was a pre-FBB rush in Sep/Oct 2018.

by mikekirk29 | 7th Dec 19, 4:34pm 1575689698

See listing figures below

by mikekirk29 | 7th Dec 19, 3:34pm 1575686079

Another indicator of stat of Auckland "market":

Total listings on RE NZ on Dec 6th 2017: 13,257.
2019? = 10,622

So listings are 20% lower than 2 years ago.
And how many have been added to stock since? About 20,000?

Houses and townhouses figure was 7038 in 2017 and in 2019 it was 5567 (21% lower.)

People are just dying to sell aren't they?

Only thing rising, apart form flannel and rhetoric, are prices and consents.

by Houseworks | 7th Dec 19, 4:30pm 1575689406

"Only thing rising ... are prices ...."
Precisely Mike. And why? Probably because of the falling number of listings you pointed out. It's a scramble for the limited number of homes.
According to one commentator home owners are moving less than they used to, instead of once every 7 years it is now every ten years. The home we are in is not PERFECT but I love living in it. In my opinion it is better to be a homeowner than a tenant,

by CJ099 | 7th Dec 19, 6:53pm 1575698037

Yes Mike it still seems very hit and miss price wise, especially in the multi million price brackets with examples like 282A Coatesville Riverhead Highway, Coatesville, Auckland. Selling considerably lower than it's RV of $3,400,000 (July '17), yet it Sold For: $2,300,000. Dec 2019.
No doubt Spunkers like bw and hw will come up with some gas lighting dribble to try and disprove the reality yet again (Yawn).

by mikekirk29 | 7th Dec 19, 4:34pm 1575689649

And... meanwhile house and townhouse listings today, compared to 7.11.19 (one calendar month) are:

21% lower in Auckland City
In Waitakere City - 12%
In Hibiscus Coast - 5%
And in Auckland as a whole, 10% lower.

In Hibiscus Coast there were 7.54 new listings per day in the same month of 2018. This year there were 4.62
That is a 38.7% decline.

This is part of a "market". Sellers are deserting in droves.
Stock new to market is largely what is selling I think.
Existing owners are not selling in anywhere near numbers did last year.

This week was peak of listings in 2018.
This year peak occurred on 15th November at 11,280 for Auckland total listings.

We go to Matakana market every Saturday.
last year the car park there was rammed - you had to drive round twice and hope for a space.
Today it was 65% empty.
The economy is on the slide and housing is just a symptom

by Houseworks | 7th Dec 19, 4:46pm 1575690411

This time last year the DGM were running a commentary on the number of real estate listings rising. Now you say the EXACT opposite, that listing numbers have fallen. But youre still trying to prove the same conclusion "the economy...housing" are in terrible shape. My advice, give up Mike but first answer me this, will jacinda ardern still have a job after the 2020 election.

by mikekirk29 | 7th Dec 19, 6:22pm 1575696152

Comments last Nov-Dec due to rise being front running OBB. Proven by 20% drop this year.
Your vehemence is rather revealing
Jacinda will win only if Winston gets above 5%

by Houseworks | 7th Dec 19, 6:44pm 1575697477

Thank you mike. I must say your insistence of a particular storyline is interesting. However unfortunately the information and spin that comes from you real estate agents must always be taken with a handful of sodium.

by mikekirk29 | 7th Dec 19, 7:59pm 1575701970

Totally agree with you about what REA industry in general say!

by Houseworks | 7th Dec 19, 10:25pm 1575710731

Time to give up while you have some dignity. Listings RISING listings FALLING it's all the same, houses SELLING houses NOT SELLING whatever happens the answer is the same. (Makes good poetry, in poetry the author decides the fate)

by frazz | 8th Dec 19, 5:14pm 1575778480

by CN | 7th Dec 19, 4:45pm 1575690355

Heard some anecdotal stories of foreign buyers finding legal loopholes to bypass the foreign buyer ban rules and have become recent buyers in Auckland. They have outbid some local active buyers. Real estate agents are advising more are flying in on buying trips in the next few weeks.

by house hunter | 7th Dec 19, 6:10pm 1575695416

Do you get any indication of the nature of the loopholes?

by richard1965 | 8th Dec 19, 7:16am 1575742563

Their is a saying in chinesses that laws are framed to be manipulate.

May be have found some ways legally to beat be it trust, company or dummy proxy who are local residents who are buying on their behalf but yes seeing the million dollar house flying raises question as FHB on average Kiwi wages cannot afford.

Time will tell if it is Chinesses or Hongkong money via Singapore or..... Only God knows OR Chinesse