Auctions getting underway again as the real estate market starts to wind back up after the holiday break: latest Barfoot results

This is our first auction report for 2017 and as is usual for this time of year results are few and far between.

That's because agents and their vendors generally hold off marketing properties for auction until most people are back on deck after the holiday break and then it takes a few weeks for the marketing campaigns to run their course before the auctions take place.

So it's usually February before the auction rooms get back to business as usual, but results from a few early auctions are starting to trickle in and numbers are slowly building.

Last week Barfoot & Thompson took 13 properties to auction and sold six of them either under the hammer or by the end of the following day, with seven passed in and becoming available for sale by negotiation.

The highest success rate was in the company's head office auction room on Shortland St in the CBD where four properties were offered, located in Onehunga (x2), One Tree Hill and Henderson, with sales achieved on three of them.

The lowest success rate was at the Manukau auction where four properties were also offered, but only one was sold (see chart below).

Bayleys first auction of the year is scheduled for tomorrow at their Viaduct Harbour rooms, where four properties were scheduled for auction, all in holiday locations, but three have been postponed, meaning only one property will be offered.

On the Auckland apartment front Ray White City Apartments have one apartment scheduled for auction this week, two for next week and six for the week after that.

City Sales have also begun marketing apartments to be auctioned next month.

Harcourts are also starting to wind up their auction program and we'll be posting their results from around the country as they become available.

We'll be continuously updating our Auctions/Sales Results page as the results come to hand.

The results from the latest auctions, including the prices achieved on individual properties and details of those that didn't sell, are available on our Auction/Sales results page.

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