Unfortunately technical gremlins have delayed the production of our usual weekend auction report this week.
We are working to resolve the problem and hope to have our report on the latest auction activity from around the country available early next week.
However readers can still access individual auction results on our Residential Auctions Results page.
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Hint - its slow out there.
Speculators will be on pins to see if the recent downward trend reverts.. big hopes..
DGMs are certainly trigger happy waiting to comment on any property related post. 🤦🏻♂️
For a change you have said something sensible
Whilst you can’t polish a turd. It is true that you can roll it in glitter
The resident "for the hell of it" contrarian will soon appear playing DGM whack a mole
The last minute scramble for green shoots
Tony Alexander has been approached for comment…
We wait with baited breath…
Mid spring, it should be boom time!!!
It's like Stalingrad all over again. News too terrible to reveal.
People thinking about searching (but not actually searching or attending anything), is estimated to be up by 1.9%
It will make a popular interest.co.nz article if it is terrible... queue the house falling off the cliff jpeg.
Auction clearance will remain at around 40-50%. I see no reason for any massive changes up or down, though one could argue that a new government being sworn in could lift the rate of sales slightly.
Though I could be proven totally wrong when the results are released later today!
LIVE IN HOPE, DIE IN DESPAIR
Just an amateur prediction. I don't really care if it goes down to 20% or up to 60%.
That applies to your hope of house prices falling 50% from peak too. 😂
All those agent's that have preordained their fancy cars in anticipation of foreign money coming in...
At a glace locally, Auckland - North shore 78 auctions, 41 passed in, 37 Sold, (2 withdrawn not counted). 47% clearance rate. Not exactly a hot market.
Wellington is going to suck the Kumera with 15k public servants unemployed.
Auckland has rarely had clearance rates much higher than this. As a longtime follower of auctions 47% is not too bad. Just the normal grind. If it sells at auction great, however if it doesn't sell they move on to negotiation and eventually sell, in the vast majority of cases I have observed , for more than the highest offer they may have got at auction. Don't accept a low bid at an auction as you are likely to get 50k to 500k more by negotiation down the track. Auctions are often just the first step in the marketing process.
Spoilers: Auckland barfoot auctions were dreadful, somewhere in the low to mid 30s.
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