Bayleys sold 18 out of 31 auction properties in Auckland, but only 4 out of 12 in Christchurch

Bayleys sold 18 out of 31 auction properties in Auckland, but only 4 out of 12 in Christchurch
This 2 bedroom duplex unit on a 582 square metre section in Remuera sold for $1.35 million

Bayleys achieved a sales rate of 58% at their Auckland auctions in the week ending December 11, while a third of the homes were sold at Bayleys' Canterbury auctions in the week ending December 4.

In Auckland 18 of the 31 auction properties were sold under the hammer or shortly afterwards with the remaining 13 being passed in, postponed or withdrawn from sale.

In Canterbury three of the 12 auction properties were sold under the hammer or shortly afterwards.

Highlights of the Auckland auctions included a block of flats in Parnell that sold for $4.68 million, a 1940s duplex unit in Remuera that fetched $1.35 million and a beachfront home at Tindalls Beach on the Whangaparaoa Peninsula that went for $1.819 million.

See below for the full results of the Auckland and Canterbury auctions, with photos of all properties including those that didn't sell.

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Bayleys Auckland auction results for the week ending 11 December:

Bayleys Canterbury auction results for the week ending 4 December:

 

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small correction, 4 out of 12 in canterbury would be a third..

Bayleys is doing better than Barfoots in Auckland, at the Wednesday Central Auckland 1.30pm auction, only 4 out of 25 properties sold under the hammer

There has to be a few buyers in Auckland worried that they bought at the high, especially those who borrowed to do so. I have no sympathy for them as they did not use their heads. They now have an expensive landlord called "the bank" who is now overcharging them.

No one is doing well on the North Shore

How ironic,the new rentiers among them now have a landlord, for life or beyond if elderly and the bank owes someone else for the privilege and so on and so on and so on. Probably all the way back to square one. Compounding is quite unforgiving.
Pity the poor bleeder at the end of the chain.
Lucky the one who escaped the over Mortgaged Belt. With a bit of petty cash.
Was it a Politician, or a former Banker, I ask myself.?
Will it be repeated?.
Will they evade tax? or put it all on another house.
Will they be exiting the Ponzi or going back home to rest and recuperate.
Will the Taxpayer be on the hook for a subsidy to end all rentier subsidies as per trend.
Will we import some more?.

OMG! Tiny 2-bed, 1-bath semi-detached Remuera brick & tile duplex on 500+sqm land sold for $1.35m!! Is it because it is DGZ?
https://www.bayleys.co.nz/Listing/Auckland/Auckland-City/Remuera/1750630

Shakes head in disbelief. Where I live it would be a push to sell it for $250K. I know people will say but it's the land and Dgz but at the end of the day someone will live in a crappy house!

Wait for FEBRUARY after Chinese new year, house price will Increase in double digit. More yet to come. I think many comments are here who couldn't make money in this market.

Why will house prices increase after Chinese new year?

The government has repeatedly assured us that Chinese buyers don't influence the market. Are you saying they were lying to us?

Earth to Pluto - wake up and smell the Chinese business job after the Nats wide boys (and girls!) retire after a career "serving" the people.

Was my sarcasm too subtle?

I think you are 100% correct. As another poster has regularly alluded to, the government is no longer working in the interest of New Zealanders.

No Pluto, I enjoyed it, agreed and took it one step further although I do think they are working in the interests of some (recently arrived) Kiwis.

Can someone explain the prices rising after Chinese New Year thing to me. I thought the Chinese had disappeared due to new rules and capital restrictions in China. Are you telling me that will be different in February?

....someone else thinks so too..but doesn't say why.
http://www.thestandard.com.hk/news_detail.asp?pp_cat=1&art_id=164166&sid...

en.wikipedia.org/wiki/Echo_chamber_(media) => http://tinyurl.com/pxpdddo

My pick would be vested interests trying to talk up the market with scare tactics.

A stall must be avoided at all costs otherwise disaster!

Precisely. The words grasping and straws spring to mind

Thank you bloodymigrant ......with your attitude, I hope Auckland house prices increase so much so, that all the greedy property bulls ie Y L, and especially those with "vested interests" (banks, RE agents etc) who smugly sit on the sidelines creaming it and saying how great it is, IMPLODE on themselves.

When prices get so high, the only people buying are foreigners competing amongst each other and the ignorant "The Block" & 'Keeping up with the Joneses' locals, who have stupidly "mortgaged themselves up to the eyeballs".

Wait ....isn't that happening already ??? .....Mr Key, Mr English do something !! .......from the echoey chambers in Wellington ......do something ...do some thing !! .................................I am going deaf by the silence..... nothing will happen, as this is what they and their ilk want...........end of story.