Clearance rates at Barfoot's main auctions ranged from 28% to 60%

Barfoot & Thompson auctioned 130 properties last week at the major residential auctions covered by interest.co.nz, and sold 51 of them under the hammer, giving an overall clearance rate of 39%.

The highest clearance rate was at Barfoot's auction at the firm's head office on Shortland St in the CBD on October 6, where a mix of commercial properties and apartments were auctioned in the morning session, and houses from a mix of suburbs including Onehunga, Royal Oak, Epsom, Mt Eden and Mangere Bridge were offered in the afternoon, with 60%of properties overall being sold under the hammer.

The lowest clearance rate was at the Manukau Sports Bowl on October 4, where 32 properties were on offer and nine sold under the hammer, giving a clearance rate of 28%. 

The table below shows how many properties were sold and how many were passed in at reach of the major Barfoot & Thompson auctions last week, although this does not include smaller auctions or the results of auctions conducted on site. 

The results do also not include properties that were sold prior to auction, or withdrawn from sale prior to being auctioned.

The auction results for individual properties, showing whether they were sold or passed in and the prices achieved, are available on our Auctions/Sales Results page, where you can use the search fields to select results by location and/or by agency.

Major Barfoot & Thompson Auctions*   4-7 October 2016
Auction venue Number of auctioned properties Number sold under the hammer Number Passed in Clearance rate
October 4, Manukau Sports Bowl 32 9 23 28%
October 5, Shortland St 31 13 18 47%
October 6, Shortland St 15 9 6 60%
October 6, Bruce Mason Centre 34 11 23 32%
October 7, Shortland St 18 9 9 50%
Total 130 51 79 39%

*These results do not include smaller auctions or those conducted on site, or properties that were sold or withdrawn prior to auction.

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4 Comments

What was the overall clearance rate if commercial sales are excluded - 30%?

They were the only commercial properties included in these results. If they were excluded it would take the clearance rate down to 38.3%.

The Big Chill.

Great info Greg - thank you!