It remains very difficult to pick price trends at auctions because of the relatively low number of properties being offered.
At Barfoot & Thompson's second online auction of the week, held on May 14, eight properties were offered and three sold under the hammer with the others being passed in.
A notable feature of the auction was that three of the houses on offer were brand new.
One of these was a was 4 bedroom/2 bathroom house on two levels with a single garage, on a 209 square metre section in Auckland's North Shore suburb of Hillcrest.
This had received a pre-auction offer of $1.175 million, which had been accepted subject to a better offer being received at auction. But there were no further bids for it and it sold at the pre-auction offer price.
Because this was a brand new home it's Rating Valuation was not yet in the system so it was not possible to do a sales price/Rating Valuation comparison.
The other brand new properties were two townhouses in the same development at Onehunga Heights. Both had three bedrooms and two and half bathrooms over two levels.
The larger of the two on a 278 square metre section received a single bid of $1.1 million and was passed in. The second, which was on a smaller section of 193 square metres, was passed in without receiving any bids.
The second sale of the auction was a traditional, two bedroom, brick home unit with a single garage in Epsom.
There was competitive bidding on this property and it sold under the hammer for $725,000 compared to its Rating Valuation of $680,000.
The final sale of the day was a 100 square metre, three bedroom Lockwood house with a double garage on a 1011 square metre section at Beachlands.
Like the first property of the day it had also received a pre-auction offer ($805,000), which had been accepted subject to a better offer at auction. But there was competitive bidding for this property and it sold under the hammer for $856,000, which was almost bang on its Rating valuation of $860,000.
The remaining properties were all passed in. They included a three bedroom/two bathroom house in Browns Bay that didn't receive any bids, and a two bedroom house on a 1012 square metre section in Glen Eden that was described as having development potential. There was only one bidder for that property. Although the bid was increased several times while the auction was paused for negotiations with the vendor, but the property was passed in with a top bid of $1.05 million.
The other that was passed in was a three bedroom house on a 735 square metre section in Avondale that didn't receive any bids.
Details of all of the properties offered at the auction are available on our Residential Auction Results page.
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