Bayleys sells two thirds of Auckland auction properties, 57% in Hamilton

A couple of Auckland homes cracked the $3 million mark at Bayleys' latest auctions

Property

A couple of Auckland homes cracked the $3 million mark at Bayleys' latest auctions

19th Mar 16, 6:02am by Greg Ninness

Bayleys sold two thirds of the homes at their Auckland auctions in the last week and 57% of the homes auctioned in Hamilton.

In Auckland 24 homes were marketed for auction over the last week of which 16 were sold and eight passed in for sale by negotiation.

Highlights included a Remuera house that sold for $3.65 million, and another in Parnell that went for $3.5 million.

At the Hamilton auctions, prices ranged from $475,000 for a house at Nawton (pictured), to $1.8 million for a large house overlooking the Waikato Rover at Tamahere.

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

Hamilton Auctions:

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9 Comments

by Triple | 19th Mar 16, 9:38am 1458333494

Greg, why are you no longer quoting the sales statistics of what actually sold under the hammer at auction?

You were quoting the actual under hammer sales last year but no longer. Why are you including the after auction sales now?

This is misleading to anyone who has been following the auction success rates.

by SpaceX | 19th Mar 16, 10:11am 1458335475

I will sit here patiently while you never get a response.

by Zachary Smith | 19th Mar 16, 3:58pm 1458356306

I actually appreciate seeing all the sales figures although it would be good to have a breakdown of sold under the hammer, sold after the auction and passed in figures.

Did anyone go to the B&T Auckland auctions this week? Would be interesting to know the figures on those or even just the vibe.

by Triple | 19th Mar 16, 4:30pm 1458358240

B&T auction results under the hammer this week were:
Manurewa: 22 sold/48 = 46% success
Bays and Central: 13 sold/20 = 65% success

by Zachary Smith | 19th Mar 16, 8:35pm 1458372941

I'd love to see the sales results for Manurewa. A quick check of TradeMe asking prices in Manurewa reveal that most sellers are wanting more than 60% above CV. The first two I checked were 86-90% above. It looks like people are gouging FHBs here as 500-600K for a stand alone house in Auckland is considered affordable but I guess that is the current market.
Anyone who bought in Manurewa 18 months to two years ago and sold now would make a killing. Who would have thought? Awhile ago now a friend of mine bought a house there for 200K and sold it five years later for 205K.

by Greg Ninness | 21st Mar 16, 8:40am 1458502854

Where we attend auctions ourselves we record those that were sold and those that were passed in on the day. These are mainly the apartment auctions at City Sales, Ray White and Barfoot. For general housing auctions such as the Bayleys and Harcourts auctions we rely on the agencies sending us the information. Usually it takes a day or two for them to collate it and send it to us, and propertties marked as sold will often include those sold shortly after the auction.

by ngakonui gold | 19th Mar 16, 9:55am 1458334519

Headline in Waikato times this morning reads
''Rampant house price rises can't last ''
Tell that to buyers in Auckland.
My translation of the headline is
LIST NOW,SELL NOW BUY NOW more commission for us.

by Zachary Smith | 19th Mar 16, 3:55pm 1458356119

The most interesting sale here is the apartment at 3l/15 Nelson St which has a CV of 90K yet sold for 380K - that's a whopping 322% above CV!

Excluding the Nelson St anomaly the Auckland sales averaged 34.67% above CV.
Excluding the 3M+ houses the Auckland sales averaged 36.61% above CV
Consistent with my other auction calculations.

by Zachary Smith | 20th Mar 16, 2:43pm 1458438203

My sleuthing has found the B&T results for the Manurewa auction last week.
Five properties sold in Manurewa/Papatoetoe for an average of 61% over CV.
Contacts suggest disproportionate number of Indian buyers - could be hearsay.
Another significant ethnic component of the Auckland property market?