It was like groundhog day at Barfoot & Thompson's residential auctions last week, with the number of properties Auckland's biggest real estate agency auctioned and sold almost unchanged from the previous week.
Barfoot's auction numbers increased spectacularly through most of October as buyers and vendors alike threw off concerns about Auckland's Level 3 lockdown and committed to online auctions.
But activity appears to have leveled off at the end of the month with the agency auctioning 230 properties in the week of 23-29 October, exactly the same number as it did in the previous week.
The sales numbers a were also almost unchanged, with 154 of the properties auctioned last week selling under the hammer, comparted to 157 the previous week.
That gave an overall sales result of 67% last week compared to 68% the week before.
Around the Auckland districts the sales rates ranged from 59% in the leafy, inner city suburbs, to 100% in Papakura (see the table below for the full district breakdown).
Details of all of the individual properties offered and the results achieved are available on our Residential Auction Results page.
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4 Comments
The levelling effect of activity perhaps reflects the current owners are realising their properties are worth much more than what the current market is willing offer and are prepared to hold off selling.
It's not the time to tyre kick for buyers in the current market. Densification plans are repricing the real options upwards.
Be quick!
*...worth much more to them than the current market is willing to offer. The market dictates the true value, the owner's opinion only affects if/when they list on that market.
Auction method dominant due to lockdown as Agents have so many buyer demands and auction easier online now
Meaning that auction numbers are not indicative of sales any more
Listings are dire
When was the mania meant to end again Mike?
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