Sales rate at Barfoot & Thompson's auctions shoots up to 75%

Sales activity in Barfoot & Thompson's auction rooms is well up compared to where it was at this time of year in 2019 and 2020

Property

Sales activity in Barfoot & Thompson's auction rooms is well up compared to where it was at this time of year in 2019 and 2020

6th Jul 21, 9:57am by Greg Ninness

There was a particularly strong result in Barfoot & Thompson's auctions rooms last week, with sales achieved on three quarters (74%) of the properties on offer.

That puts Barfoot's auction sales rate back up to where it was at the height of last summer's selling season.

The number of properties being taken to auction is continuing to decline, with 145 going under the hammer last week (26 July - 2 July), compared to 150 the previous week and 165 the week before that.

While the slide in the number of properties being auctioned is not unusual over winter, the high sales rate is unusual for the time of year.

And by both measures, Barfoot's auction activity is well up compared to the same period for the last two years.

In the equivalent week of last year (27 June - 3 July, 2020) the agency took 124 residential properties to auction and sold 66 of them, giving a sales rate of 53%. In the equivalent week of 2019 (22-28 June) the agency auctioned just 75 properties and sold just 25 of them, giving an overall sales rate of 33%.

The high rate of sales was evident across all Auckland districts last week, with sales rates ranging from 57% in Rodney to 100% in Papakura.

The table below gives the sales breakdown across all Auckland districts.

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

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22 Comments

by b21 | 6th Jul 21, 10:46am 1625525171

Continuing trend with agents taking to auction less houses, more going to negotiation which explains the higher sales rate. Just those houses they are confident that will sell are going to auction now in contrast to a few months ago.

by Rex Pat | 6th Jul 21, 11:24am 1625527454

What evidence is that comment based on?

by b21 | 6th Jul 21, 11:38am 1625528300

Proportion of homes on sale by auction and other methods.

by tothepoint | 6th Jul 21, 11:42am 1625528553

Can you provide the source of your information, b21, or is it just another of your throw-away DGM comments?

TTP

by b21 | 6th Jul 21, 12:28pm 1625531282

Why are you being so negative all the time? This is good news, meaning both agents and sellers are becoming a bit more realistic. You just need to open TradeMe and you will find the evidence and you well know that, it is not hidden anywhere.

Are you going to reply with some ad-hominem again?

by Pragmatist | 6th Jul 21, 12:52pm 1625532726

Translation: b21 has no data to back up his assertions. surprise surprise.

by b21 | 6th Jul 21, 1:03pm 1625533380

Are you saying what I say is not true or is this simply your daily online harassment session?

by youngdumbandbroke | 6th Jul 21, 1:16pm 1625534190

He's saying until you present some relevant data, you're statement has no credibility

by b21 | 6th Jul 21, 1:57pm 1625536678

These are just online bullies who attack whoever that does not agree with their own narrative, who could also present the opposite data if they would have any evidence, but obviously the purpose of their messages is not to do this but merely discouraging others from participating in the discussion.
As I said, the data is available for everyone to see if they actually have the interest to do so. Good day.

by Pragmatist | 6th Jul 21, 1:46pm 1625536013

You made the claim, you present the data, thats how it works.

by Lord Dowding | 6th Jul 21, 1:42pm 1625535762

You do state a fair bit of baseless anecdotes as part of you DGM propaganda quite frankly b21.

Like when you told us all the agents leave sold signs out for months in desperation when they are usually gone in a week max.

Sold signs everywhere all over Auckland btw and that’s in middle of winter with borders closed and an ideologist left government that has put property investors under siege and shoved through every policy it can to stop demand.

by b21 | 6th Jul 21, 2:02pm 1625536974

Just for the record, I have never said what you claim I did. It is simply one more lie.

You must be confusing me with someone else but not surprised you are using whatever dirt you can grab to throw ad-hominen at whoever does not support your narrative of a real estate market built for investment profit, again.

by taimaiakka0 | 6th Jul 21, 3:04pm 1625540689

Have put in policies .....lol

Mt Orr and Jacinda through Robertson working hand in glove to support and promote - proof : Wait and Watch policy.

What happened to DTI, used to distract and were successful and silver bullet that is bound to effect the ponzi - interest only loan is not even talked about as will actually control the ponzi and none of the messiah want that to happen.

by youngdumbandbroke | 7th Jul 21, 1:30pm 1625621446

Our own house had the sold sign out for 6 weeks so it varies. Parents farm sold sign was out for a few months.

by sam-s | 6th Jul 21, 2:02pm 1625536924

Probably another throw away comment. b21 is negative towards sector that is having positive growth.

by b21 | 6th Jul 21, 3:31pm 1625542315

Check my comment above, this is good news since it would mean we are reaching a cap.

Don't mistake positive growth with beneficial, housing hyper-inflation has real world consequences for everyone, and it is not just about the capital gains some benefit from.

by Rex Pat | 6th Jul 21, 11:53am 1625529185

Where is the evidence of the number of properties sold by negotiation in the same period? BTW a sale last week set a new record for our street in Auckland at $3,800 per m2 of land. The sale was @ 125% of 2017 CV. The house on the property will be removed and the section redeveloped into either two or four houses. Some parts of the market appear to be in good stead.

by b21 | 6th Jul 21, 12:29pm 1625531343

I could think of some houses in the same period removed from the market. So cherry picking can go both ways.

by Rex Pat | 6th Jul 21, 1:08pm 1625533730

There’s barely anything on the market in our area and this sale was 30/6/21 so relevant to the heading. Not many cherries to pick. BTW it wasn’t auctioned. It’s a data point. Nothing else

by b21 | 6th Jul 21, 1:19pm 1625534361

Thanks for the clarification Rex Pat.

by tothepoint | 7th Jul 21, 11:19am 1625613569

Some time-honoured wisdom for b21:

"When you're in a hole, quit digging."

TTP

by Champagne Charlie | 7th Jul 21, 3:40pm 1625629231

.....and in those fine words of our recent Prime Minister Sir John Key ....rising house prices are a good thing to have .....say what ol' boy ......now move along nothing to see here...... and let the greatest wealth transfer history has ever seen carry on .....and long may prices continue their upward trend .....haw haw