Barfoot & Thompson sold two thirds of auction properties last week and nearly three quarters on the North Shore

Barfoot & Thompson sold two thirds of auction properties last week and nearly three quarters on the North Shore

Auckland's largest real estate agency sold two thirds of its auction properties last week.

Barfoot & Thompson marketed 287 residential properties for sale by auction in the week ending March 6 and sold 188, giving a clearance rate of 66%.

The highest clearance rates were for properties sold on site (73%) and those sold at its North Shore auctions (also 73%).

At Barfoot's head office auction room in the CBD the clearance rate was 64% and in Manukau it was 60%.

See the table below for the auction sales breakdown by area. 

Barfoot & Thompson Auction Results for Week Ending March 6
Auction venue Total auction properties Passed in, postponed or withdrawn Sold  Clearance rate 
Manukau Sports Bowl 48 19 29 60%
34 Shortland St, CBD 153 56 97 64%
Fairway Conference Centre, Glenfield 59 16 43 73%
Tuakau Town Hall 1 1 - 0
On Site 26 7 19 73%
Total All Auctions 287 99 188 66%

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23 Comments

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interesting final fiqures dont quite match what zachery observed more like what big daddy reported

Well there you go, the IRD must be pumping out those IRD numbers, seem like the backlog has been cleared. Chinese are back with vengeance.

SpaceX - You keep saying that the Chinese Investors are back but you still give no evidence!

I still think only having around 60% clearance rate is still fairly poor. This is one Investor who is prepared to wait for more conclusive results before taking the plunge in to this market.

Actually 75% and 80% were recorded this week.

Evidence? How about a jet with over 100 Chinese coming to Hawkes Bay and AKL and buying up everything that is and isn't bolted down?

SpaceX - is this report of 100 Chinese buying everything factual or hearsay? I'd be very interested to hear more. And why HB? Thanks.

SpaceX where is your evidence? I see CJ has also asked you this question.

If you think house prices are expensive then at least be honest and treat the causes not your perception.

If you put as much energy into getting the Auckland Council to remove its boundary lines as you do posting on here you might get a value for money house.

John is that you? or you Bill ?? or Nick??

Yeah you truly are not an economist if you just want to address supply and not demand. DEMAND AND SUPPLY BOTH MATTER

Well SpaceX; We're just guessing that you're a Real Estate Agent, who wants to keep pushing the property market to keep your commission rates up by telling us (NZ Investors and potential home owners) that there's still plenty of Overseas Investors competition buying up NZ property and bloating house prices.

A good excuse to keep those auctions going, we wouldn't want people to sell priced or negotiation, that could really slow down the property market as it did recently for Auckland.

I am far from a real estate agent; I have morals. I hate them.

As a FirstHomeTryer, I am just saying that it is beyond fucked and the only glimmer of hope, which was decreasing prices and lower clearance rates is over, just like in 2013 when the new LVR rules came through there was a slow down for a few months then it was business as usual with super price rises. The same is happening again, and it is depressing.

All I am saying is, don't get your hopes up. Nothing has changed.

Where is the evidence....

To all you Awklund property bulls out there, ya reckon' we can have at least a 10% gain in the next 12 months ...... gotta keep the "Property Ponzi Party" going "at all costs" ...... but who really pays for those costs ?

So the market is just ticking along. *Yawn* Without dramatic increases/decreases what will the media possibly report for news?

If it's true it confirms they are no longer players in Auckland.

Perhaps the B&T auctions went well last week, but they sure didn't this week:

• Bays and Central areas: 11 sold from 28 = 39% success
• Manukau areas: 17 sold from 48 = 35% success

These numbers are very bad for this time of year (actually they're bad for any time of year…).

Winter is coming...

24/4/2016

The IMF are warning "economic derailment" is coming. Strong words.

If Jon is really dead, economic derailment just doesnt rate

The B&T auctions today were a lot less lively than last week. The selection didn't seem as good. The 'less than ideal' house is hard to sell. House that did sell went for around 34% on average higher than the CV (Based on the first eight sold).

The old saying is location, location , location......

I did an analysis of the Bayleys auction results for last week.
http://www.interest.co.nz/property/80444/bayleys-auction-clearance-rate-...
28 Auckland properties sold for 36,032K with a CV of 25,825K = 39.52% over CV

I will try and continue doing this over the coming months and see if there is a trend. Price decline should see the percentage drop, stagnant will stay the same and price increase will of course reveal higher percentages. Pushing through into the 40% mark would indicate prices increasing. Dropping below 30% will be a decline.
Of course locations are a major factor.

Why do you think we need more data? We already know what's happening with prices.

What's happening? SpaceX says up and Gordon says down. I don't believe published figures as that is not what I am seeing on the ground.

Edit: Why do you think we need more data?

I have to say that is a really bizarre question for a web site such as this.