Sales clearance rates ranged from 22% to 34% at the four major Barfoot & Thompson auctions monitored by interest.co.nz last week.
The highest sales rate was achieved at the auction conducted at the Bruce Mason Centre on the North Shore, where 32 homes were auctioned and 11 were sold under the hammer, giving a clearance rate of 34%, with the remainder being passed in for sale by negotiation (see table below).
The lowest sales rate was at the Manukau auction, where 37 homes were offered for sale but only eight sold under the hammer, giving a clearance rate of 22%.
An ongoing feature of recent auctions has been the high number of homes that do not receive any bids at all before being passed in for sale by negotiation.
At the four Barfoot auctions monitored by interest.co.nz last week*, 136 homes were auctioned, of which 38 were sold under the hammer, giving an overall clearance rate of 28%.
Of the remaining 98 homes that were passed in, 54 or just over half didn't attract any bids at all.
The results for individual properties including the prices achieved for those sold under the hammer, are available on our Auctions/Sales Results page.
|Venue||Auctioned||Sold||Passed in||No bids|
|Manukau Sports Bowl, 8 November||37||8||29||10|
|Shortland St CBD, 9 November||41||12||29||17|
|Shortland St, CBD, 10 November||N/A||N/A||N/A||N/A|
|Bruce Mason Centre, North Shore, 10 Nov.||32||11||21||15|
|Shortland St CBD, 11 November||26||7||19||12|
*These results do not include the results of Barfoot's smaller auctions, properties auctioned on site, or the results of the regular Thursday afternoon auction at Barfoot's head office on Shortland St.
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