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Barfoot & Thompson's auctions last week achieved a 71% sales rate

Property / news
Barfoot & Thompson's auctions last week achieved a 71% sales rate
18th Oct 21, 1:46pm by Greg Ninness

The number of residential properties being auctioned by Barfoot & Thompson continues to rise, even though Auckland remains in Level 3 lockdown.

The city's biggest real estate agency auctioned 161 properties last week, up from 141 the previous week and just 70 the week before that. 

Although there was a sharp downturn in activity in Barfoot & Thompson's auction rooms when Auckland initially went into the latest lockdown, that bottomed out at 16 properties auctioned in the week of September 18-24 and has steadily increased since.

The sales rate has remained elevated during lockdown, with 115 of the 161 properties offered at auction last week selling under the hammer, giving an overall sales rate of 71%.

Around the Auckland districts the sales rates ranged from 59% in Manukau to 85% in Franklin last week.

See the table below for the district-by-district breakdown.

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8 Comments

by  CWBW  |  18th Oct 21, 1:50pm 1634518243

Love the ramping up in activity- steady as she goes.

Be quick!

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by  Shoreman  |  18th Oct 21, 2:04pm 1634519045

Ready for lift off come Lev 2, or maybe Robo will try for a longer Lockdown to delay it !

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by  stuart786786  |  18th Oct 21, 2:39pm 1634521158

Barfoot & Thompson's auctions last week achieved a 71% sales rate

Why be surprised...what do you expect when have support of Mr Orr and Jacinda. 

They have the power the print money and throw.

Peter Schiff..........know is pessimist but what if he is correct :

https://www.youtube.com/watch?v=17huECwmwkQ

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by  DTRH  |  18th Oct 21, 3:21pm 1634523676

Lots of people have been saying a correction is coming for a while , now the world is being hit by inflation it only a matter of when anyone not ready will lose big.

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by  tothepoint  |  18th Oct 21, 5:05pm 1634529910

If sales rates of 71 per cent are being achieved during a partial lockdown, then one can only assume that the underlying demand for houses is very high indeed. 

I suggest that prospective house buyers sit back for a while and give the market a chance to cool down.

TTP

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by  Nifty1  |  18th Oct 21, 2:43pm 1634521382

Where's Mike saying the manias over?

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by  Crazy Horse  |  19th Oct 21, 12:39pm 1634600360

I see it's the same old property spruikers still in here, wishing and hoping things will just "carry on"  forever as they were.....well nothing lasts forever folks and all those "astute & knowledgeable" comments especially over the last 6 - 12 months, that things won't or never change have now been blown to the weeds .........especially the ones that said interest rates will "never" rise..... so welcome to the new paradigm, where some common sense might finally come into play, instead of the central banks, retail banks and governments etc setting up the playing field totally in favour of the "savvy" property investor, rather than those who just want one (1) family home. 

Adios Amigos !!! .....and may all your property dreams come true .....Crazy Horse out. 

 

 

 

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by  Spiceeh  |  19th Oct 21, 4:46pm 1634615207

Sales can always remain high, if the price is right.  Just because 71% are sold doesn't mean the prices on that 71% are growing at the same rate as they were across the board previously, and as we see prices are actually volatile right now and reserves are likely becoming more realistic.

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