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The overall sales rate was 56% at Barfoot & Thompson's auctions last week

The overall sales rate was 56% at Barfoot & Thompson's auctions last week

Barfoot & Thompson's auction rooms are back in full swing with the agency marketing 136 residential properties for sale by auction last week (10-16 February), with sales achieved on 76 of those, giving an overall sales rate of 56%.

Of the main auctions where at least a dozen properties were offered, the most successful were the on-site auctions which had a sales success rate of 77%, followed by the Shortland Street auction on February 14, which featured a range of properties from Auckland's western suburbs and a sales rate of 64%.

At the big Manukau auction the sales rate was 59%, and at the North Shore auction it was 48% (see table below).

Those results suggest Auckland's residential property market could be headed for a reasonably buoyant summer selling season, with March usually being the busiest month of the year.

Details of the individual properties offered at Barfoot's auctions and the results achieved are available on our Residential Auction Results page.

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Barfoot & Thompson Residential Auction Results 10-16 February 2020
Date Venue Sold  Sold Post Sold Prior Not Sold Postponed Withdrawn Total % Sold
10-16 Feb On site 10     3     13 77%
11-Feb Manukau 13     8   1 22 59%
11-Feb Shortland St 3     4     7 43%
12-Feb Mortgagee/Court 2       1 1 4 50%
12-Feb Shortland St 10   1 9   1 21 52%
12-Feb Whangarei       2     2 0%
12-Feb Pukekohe 2   1 1     4 75%
13-Feb North Shore 14   5 20   1 40 48%
13-Feb Kerikeri       3     3 0%
13-Feb Shortland St 5   1       6 100%
14-Feb Shortland St 8   1 5     14 64%
Total All venues 67   9 55 1 4 136 56%

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21 Comments

Yawn. Variation on a theme. Confidence is going to be crunched I am afraid and no one wants to say so

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Just came back from B&F auction in the city. You will be very surprised about the market confidence looking at that full room of people. And first property sold $100 K over current CV and $200 K over last sold price in 2016.

I have been on the market looking to buy for three years now, never seen anything like this. Auction numbers coming next week hopefully will shut a lot of people up here.

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Wait, what?

You're looking to buy and you're happy that the market is going irrational mental?

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Not happy. Frustrated. But those deniers' comments are irritating all the same.

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Hi mikekirk29,

I don't see any evidence that confidence has been crunched.

But there's abundant evidence that the DGM have been crunched.......

TTP

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I'm just sitting here in the corner with a cigar watching the coronavirus reports roll in.

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Not even really worthy of being published except for those whose statistics education finished early on in their high school days or for whom the subject wasn't of much interest.

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A few coughs from a Chinese looking person ought to clear the auction room out.

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You're joking but my very white partner coughed once in the gym yesterday and two asian looking ladies on the stationary bikes adjacent to hers immediately got up and moved to the other end of the room.

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Am I? :)

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I was in a long checkout queue at Ikea in Melbourne, had a few cough and suddenly I went from 8th to 3rd on the queue. the two people in front of me were Asians, they didn't give a stuff!

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No commentary on sale price vs CV?

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We generally run the RV/selling price comparisons in the end of week stories which have results from all the auctions we follow, giving us a bigger pool of data.

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why would you auction up north ?

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Yes especially when there's not much of an economy to support over inflated prices in areas like Kerikeri.

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A lot of new listings coming onto the market in February in the greater Ponsonby area, from an all-time low level of listings in January

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Interesting. I reckon the new Feb listings look pretty quiet on the shore..

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Hi Yvil,

Ponsonby listings sell quickly.

It pisses me off: I never get there in time to see them.

TTP

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Really expecting the Coronavirus to put the brakes on the housing market, the next two weeks are critical in containment. Things could be really bad come March but I guess we will not even get that data until April.

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I have a feeling Coronavirus will fuel the property, especially among many Asia residents who are eligible to buy. Many of them tend to keep some capital or property back in their home country as to enjoy "best of two worlds". Now the outbreak might help them to make up their mind to invest more or move back to NZ.

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not to mention what the GDP figures will be should the corona virus not be bought under control during the next few months!

But hey, everything is okay in NZ we are different and our auction rooms are full - all is well.

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