Auction results: Bayleys has sales rate of 64% in Auckland, 55% in Waikato

Bayleys latest auction sales included a 103 year old Waikato church that sold for $141,000 and a starter home in Pt Chevalier that fetched $1.017m

Property

Bayleys latest auction sales included a 103 year old Waikato church that sold for $141,000 and a starter home in Pt Chevalier that fetched $1.017m

3rd Oct 16, 10:55am by Greg Ninness

Bayleys had a busy week in their Auckland and Hamilton auction rooms last week, with 50 homes auctioned in Auckland of which 32 were sold, giving a clearance rate of 64%.

In Hamilton 33 properties were offered, including properties in Hamilton, Matamata, Te Aroha, Raglan and Te Awamutu, of which 18 were sold, giving a clearance rate of 55%.

The auction sales included a former church building (pictured) on a 1053 square metre section at Puriri on the road between Kopu and Paeroa, which sold for $141,000 (see more photos below).

Some of the highlights of the Auckland auctions included a three bedroom villa on a 565 square metre section at Devonport that sold for $2.35 million, a three bedroom townhouse in Remuera that fetched $885,000, a Mt Wellington house that sold for $720,000 and what was described as an entry level house on 356 square metre section at Pt Chevalier that went for $1.017 million.

You can see the full results of Bayleys latest auctions in Auckland and Hamilton, as well as auction results from several other agencies including Barfoot & Thompson, Harcourts, City Sales and Ray White City Apartments, on our Auctions/Sales Results page.

Below: The Church at Puriri that sold for $141,000.

Below:The exterior of the Church at Puriri.

Below: The interior of the church at Puriri.

Below: The ornate ceiling of the Church at Puriri.

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10 Comments

by BigDaddy | 3rd Oct 16, 2:40pm 1475458849

The real results are:
Auckland failed to sell: 36%
Hamilton failed to sell: 45%
6 months ago it would have been a 95% clearance rate on the day.
The first signs of The Big Chill.

by Clarence68 | 3rd Oct 16, 4:05pm 1475463906

Predictions for the next few months Big Daddy? When would you advise a FHB to buy?

by THE MAN 2 | 3rd Oct 16, 2:42pm 1475458923

Greg, what has happened to Chch sales over past 2 weeks?

by Greg Ninness | 3rd Oct 16, 4:29pm 1475465363

We have posted all of the auction results we have received, but the numbers in Christchurch are very low at the moment eg, there is only one Christchurch home listed on the Bayleys website that's scheduled to be auctioned this week.

by BigDaddy | 3rd Oct 16, 4:56pm 1475466983

I predict that the market will steadily flatten out and selling will get somewhat harder than before.
Therefore FHBs may get a better deal if they act quickly when the right property comes up. Also a bargain of sorts may be had by making cheeky offers to the vendors of the unsold properties who will be highly frustrated having spent thousands to get to the market and failed.
A crash is most unlikely unless a massive financial upheaval occurs locally or internationally such as bank collapses, or over reaction by the authorities introducing more regulations to the property market in the misguided view that a free market can be controlled.
The most likely problem will emenate from something going wrong in China.

by gordon | 3rd Oct 16, 5:02pm 1475467333

and as JK said today watch out when the US Fed raises interest rates in December. People seem to forget we are on emergency interest rates in NZ. Banks are reluctant to pass on any further rate decreases and from here we should at some stage move back to the old 6 to 8% range of old. It might take some time. Housing will be effected when it happens and so will equities.

by sharetrader | 4th Oct 16, 12:35am 1475494525

Chinese are trying to stop their property from imploding, so it will happen if you go any previous boom and busts asset cycles in china.
http://www.cnbc.com/2016/10/03/chinese-cities-curb-property-purchases-a…

by Crazy Horse | 3rd Oct 16, 5:25pm 1475468735

Sorry BigDaddy...if I was an FHB I would be staying well out of the Auckland market .....as gordon said, as soon as young Janet raises those interest rates, the greedy aussie banks will no doubt raise their rates double what the Fed raised them by.....and there goes the end of low interest rates.

by THE MAN 2 | 3rd Oct 16, 6:59pm 1475474361

You are dreaming if you think that if the U.S.A raises interest rates then our rates are going to go to 6 per cent plus.
The fact that you can get 30 year rates so low tells us that rates are never going to see over 5 per cent again in our life time.
If they do then every country will be stuffed so it isn't going to happen.
You can wish what you want but it isn't going to happen.
10 year fixed currently 2.75 per cent 30 year fixed 3.62 per cent in the States

by mfd | 4th Oct 16, 8:58am 1475524717

10 years ago US 30 year bond rates were double what they are now, 20 years ago they were nearly triple what they are now. At those times, looking at the 30 year rates to predict future rates failed miserably. What makes you confident that this time it's a useful predictor?