Waitakere properties sold particularly well at Barfoot & Thompson's auctions last week

Waitakere properties sold particularly well at Barfoot & Thompson's auctions last week

There was a slight increase in activity in Barfoot & Thompson's auction rooms last week (October 31 - November 6), with 258 residential properties passing through the hands of the agency's auctioneers.

That was up slightly from the 243 properties Barfoots auctioned the previous week, and well up from the 214 it auctioned the week before that.

There was also a slight increase in the sales rate with sales being achieved on 151 properties at last week's auctions. This gave an overall sales rate of 59%, a slight improvement on the 54% sales rate the previous week, but still below the 60%+ rates achieved earlier in October.

The central Auckland suburbs were the busiest, with 73 properties auctioned in that area, closely followed by Manukau with 67.

Although only two Northland properties were actioned last week they both sold, giving a 100% sales rate. In Waitakere 73% of the properties auctioned changed hands (see the table below for the full district breakdown).

Details of the individual properties offered and the results achieved are available on our Residential Auction Results page.

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24 Comments

the vaccine will be just like a dope to the housing market.

wow...

Dope is already like dope to the housing market.

The rising prospect of an effective vaccine for COVID-19 together with the removal of Trump from office is positive news indeed.......

Expect a resurgence of activity in the housing market and other investment markets.

But spruiker-speculators should be cautious: boom times don't last forever.

TTP

Hmm... when the last bull turns bearish, it's time to buy? Or was it the other way around?

Do not worry Xing.....My Orr has made it, his personal misson to ensure that fire never runs out of housing ponzi...So chill......

Hi stuart786786,

It's people exactly like you that my post above is aimed at.

TTP

It's already like a dope on the share market, will be like you said for the housing and I expect more stratospheric rises, as today we toned down that only 3.2billion in red/deficit, so still room to move by Mr. Orr & team to reduce OCR immediately to negative and push more of this Nov. FLP not just for small business But hopefully also for the property investors - This is a sure sign for the newly appointed govt, that avoiding CGT is not enough, the current NZ economic climate demanding for the removal of bright line test, be bold Lab! RBNZ already showed that with LVR

Looks like the trend keeps going down not recovering to levels from the last couple of months.

https://i.postimg.cc/bJNTYXJg/BT-clearance-rates-3w-trend-w45.png

The madness of greed

Not greed its by virtue of this governments actions combined with signals from the RBNZ that makes buying a house a no brainer. They have removed any uncertainty from the market in terms of interest rates in the short to medium term and therefore everyone is "All in boots and all". You don't need to try and predict what the housing market will do, the crystal ball got thrown out the window, you can see where its going without it. Totally insane if you look at the fundamentals, but there you go. Just keep on pumping the debt, its the only way the system works.....right up until it doesn't. The secret is you need to 100% own the chair when the music stops.

These are dangerous words Carlos, I really hope nobody will take this seriously. People can get really hurt entering the market just now.

Calling it as I see it. I was in the house price crash DGM group but sometimes you just have to quickly admit you were wrong and change tack and fast.

Carlos, you are one of the very, very few on here who is open minded enough to change your mind rather than just sit on your position and defend it tooth and nail, no matter what. This will serve you really well in life, congratulations!

b21, Carlos is 100% spot on in his post above. Has it never occurred to you that people can get really hurt sitting on the side lines and missing out for a lifetime?

B21- when are you going to get sick of being wrong and join the party?

This is exactly why, when a sector of the economy looks like a party, those taking part in it often don't see the dangers and call names to those highlighting the fact they are going to have a hangover next morning. Enjoy it while it lasts.

House sold in June in Manurewa for 620000 with CV of 580000 as it had 675mt land sold for a million recently.

FOMO at peak as saw FHB bidding (Do not blame them) bidded 1.050 for a unit which had a CV of 765 and and in the same auction another 3 bedroom single zone house with CV of 995 went for 1090 and compare to value much much better home and also investment for future.

So funny things happening in market and at times FHB for FOMO paying not the value but what has been approved for them.

If not controlled Mr Orr is leading economy to path of distruction though may cover for short term but long term nothing sort of disaster as the type of economy supported and promoted by Mr Orr (Housing Market only eceonmy in NZ so Economy = Housing market)

"1.050 for a unit which had a CV of 765" - Standard Wellington pricing right now

will a covid vaccine reduce the need to stay at 0% OCR?

That's a very interesting question, the obvious short answer is yes it should, which then could seriously cool the housing market, but then again, even if there is less need for low rates, I struggle to see the RBNZ lifting rates.

73% of properties sold in West Auckland under the hammer in Barfoot & Thompson Auctions. This trend is not going to stop soon esp. in West Auckland. A number of people sent online Home Appraisal Requests on West Auckland local property Website last week. It was much higer than last month.

It is soon be a good time for all of us in the professional Healthcare force, rare skills, doctors, nurses, police, teachers, engineers & the rest of low wages essential workers. That perfecting their skills for donkey years, earning good salary, to be greeted by forever increasing housing price (by OECD standard, OZ is the same as average, Canada up slightly.. NZ? is pretty much up there).. to move out to a country that offer more salary/wages, higher exchange rate & still consider the sane housing cost, felt so sorry for you Kiwis.. be it homeless or home owners..C'est La Vie! - good luck with your waiting list.. - Do Not Worry your wealth is clearly can buy your health.. if you need us, join the queue across the ditch.

I look forward to seeing you complaining about house prices on Interest.com.au some time soon Mrs Pusheen!

Naa, that's already sorted out mate, the bitterness due to sadness of up rooting something that we thought already heavily invested, time wise & emotional, family, friends, colleague etc. But every moves will take sacrifice, for sure I'm not complaining with the housing option vs price vs work location, wages etc. - Go to Perth, Adelaide or Brisbane. C'mon their 8D TV ads surely enticing isn't it? - actually I'm fully supportive current NZ or RBNZ moves, the housing here in NZ? need to go up more!, still very potential. May be it's just me emotional outpour, need to complain about something .. from daily chore.. to determine in exact way, how long someone got to live for.. regardless of their wealth.