Auction results: Just over a quarter sold at Barfoot & Thompson auctions

Property

Barfoot & Thompson had a 27% success rate at last week's auctions; 12% at Manukau auction; 34% on the North Shore

25th Apr 17, 10:23am by Greg Ninness

Barfoot and Thompson sold 36 of the 133 residential properties the firm marketed for sale by auction last week, giving a sales clearance rate of 27%.

The 97 properties that remained unsold by 5pm the day after the auction included five that were withdrawn from sale and two that had their auction dates postponed.

The auction rooms are normally a bit quieter than normal in the weeks either side of the Easter break and that was the case again this year.

At the Manukau auction just four of the 33 properties marketed for sale by auction were sold and on the North Shore 10 of the 29 properties marketed for auction were sold.

At the biggest central Auckland auction, three of the 17 properties were sold.

The full results with details of all properties including those that didn't sell, are available on our Auction Results page.

**Barfoot & Thompson Auction Results 18-21 April 2017**
Venue	Sold*	Not sold*	Total
On site	5	6	11
Manukau, 18 April	4	29	33
Shortland St, 18 April	2	8	10
Whangarei, 19 April	2	2	4
Shortland St, 19 April	5	10	15
Pukekohe, 19 April	1	2	3
North Shore, 20 April	10	19	29
Shortland St, 20 April	4	7	11
Shortland St, 21 April	3	14	17
Total	36	97	133
*Sold includes properties sold either under the hammer or by 5pm the following day. Not sold includes properties that remained unsold by 5pm the day after the auction, and properties that were withdrawn from sale or had their auction postponed.

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26 Comments

by two otherguys | 25th Apr 17, 10:39am 1493073566

Barfoot and Thompson will be making a fortune out of Auction fees and "house magazine" advertising

by CJ099 | 25th Apr 17, 10:40am 1493073631

27% success rate! Wow... Now do you realize that prices are dropping.
Once sales fall then so do prices.

by Yvil | 25th Apr 17, 12:56pm 1493081772

27% clearance is very poor. It means dropping number of sales, not dropping prices

by Gummy Bear Hero | 25th Apr 17, 1:28pm 1493083731

... maybe we've passed the point of " Peak Chinese Buyer " ... and are heading down the other side of the foreign investor curve ?

by Alter Ego | 25th Apr 17, 4:39pm 1493095187

I think the right terminology is "Bent"...not curve. Gummy...The trough has been fully sucked dry.

The importation and laundering of overseas interests is in the interests of those interested, in continuing the curve ball thrown out of the park and into the residential sections thus pertaining.

When the ball bounces, then we will see how and who bent the statistics and is inclined to participate in structural issues. Each issue is issued, then leveraged at least 14 times the yield of a single blood donor., who worked his socks off and saved a little. (The silly fool).

This Bell curve has now bent over backwards to inflate all Houses into "investments'. not Homes.

Motels and bawdy houses, not withstanding, these are just short term accommodation, for accommodating, those of a different bent. Flipping mad.It was a Capital Idea, but now it is certainly bent, beyond fixation., Except the fixation of TV with the subject.

Hence why National are interested, in aiding the FHB into their first home,at long last to house and bend the curve back the other way as it was skewed to far to the right.

What is left I ask myself.?. Money Printing and Money Laundering are only allowed by Banks, so the bent is now legal, but with delusions of not knowing what the left and right hand is doing.

Skimming and scamming is now legal, so bending the curve in the other direction, away from being as bent as a corkscrew as per other Countries mach-e-nations.

Each in ones own "Interest" off course.. Bent as a nine bob...note.

And of course crony Capitalism, would not work in a curve, as it would come full circle, and bite one on the arse, so it is now 'Bent" out of all proportion.

I hasten to add I might be wrong, but is does not add up to me. Foreigners bending the rules, that have been bent and warped at speed in the past few years...2008 was when the curve turned full circle, to bent.

Now do you get my...drift....watch yer back...it is back to the futures...2008 is now 2017 buy derivatives..(Yeah right)....but do not bet the house on it...hedge.

Banks have bent the curves their way....I could explain...but my ego will not allow...it is not in my interest.

Where's Wolly and the Count...any idea?..?

by Andrewj | 25th Apr 17, 5:53pm 1493099586

http://www.michaelwest.com.au/game-changer-for-oil-giants-and-multinati…

by two otherguys | 25th Apr 17, 7:13pm 1493104412

The comparable silence in NZ is breath-taking

by two otherguys | 26th Apr 17, 8:30am 1493152254

Pity we don't have anyone in NZ swinging the cudgels

Where are they?

by NorthernLights | 26th Apr 17, 10:22am 1493158969

AndrewJ that was way above pure gouging! Surprised they didn't charge Chevron Aus a full 10% but they obviously thought it was usury ! Such ethics !

by CJ099 | 25th Apr 17, 5:42pm 1493098936

@Yvil: Falling sales brings falling prices and looking at the latest auction results they do appear to be dropping. As and example; I doubt you would have found any house below the million mark in Devonport before the capital flight restrictions kicked in last December and yet a property just sold at auction there in the $800k bracket.

by Simo | 26th Apr 17, 7:28am 1493148521

As night follows day... It surely will mean dropping prices

by Hardly | 25th Apr 17, 12:45pm 1493081113

I realise it's probably a bit foolish to read too much into the sales for a month with so many public holidays and storms but it will be interesting to see what the prices look like for April.

I'm also wondering about the composition of the sales that are occurring. That is, how many of them are conditional sales that are reliant on another sale. I realise auctions are unconditional but with auction numbers drooping and investors constrained by the deposit requirements, there must be a shortage of unconditional sales.

Is it possible that there are a large portion of conditional sales that will either (a) force sellers to meet the market to fulfill their conditional offer or (b) let their offer fall over. This is an interesting counter to people who say home owners can just hold tight. Yes they can, but if nobody sells then surely that will further reduce the number of buyers.

by PaulO | 25th Apr 17, 12:45pm 1493081157

I was up in Auckland this weekend and there was an open home around the corner so I went and checked it out. It was the worst presented home for sale I have ever seen - and we must have gone through 100 homes in 2015 before we found something so we've got plenty to compare it with.

There were dirty dishes in the sink, there were dirty clothes scattered around the house, the lawn was an overgrown jungle and clearly the property had not had any TLC in a very long time.

This small 3-bedroom, 40-year old in a street in a dodgy blue collar Glenfield street ( https://www.barfoot.co.nz/594086 ) next to what until recently was a tinny house had a price expectation of "in the 8's" according to the agent. No wonder auction clearance rates are so low - the price expectations between sellers and buyers are miles apart!

by Hardly | 25th Apr 17, 12:54pm 1493081661

Ew! Probably a rental so they might not have had control over the state of it. It makes me love my house that is for sure.

I couldn't pay that much for that house, I just couldn't. Best case you demolish it and put something on the section but then you are paying 800k for a section. Crazy. Could you get two townhouses houses on a section that size?

by NorthernLights | 25th Apr 17, 4:01pm 1493092870

Yes you do not need a university degree to know a dump in working class Glenfield is not a great buy
In the $800,000s ! Complete madness which will meet true reality sooner than many spruikers think
How many more people does the ridiculous National govt think Auckland can take before it loses its Liveable City status ? Laughable !

by Better things to do | 25th Apr 17, 4:43pm 1493095387

I notice the agent selling it is from Albany Branch.. perhaps not a wise move..? maybe local person may have been a better choice.. but then a local person may know "too much" about the area!!!

by GenerationXY | 26th Apr 17, 8:09am 1493150950

As someone who lives around 100m away from this house and have family in the area, that is indeed the usual price around here. Also, coincidently, a dozen properties on Powrie Street have been sold to a Chinese women over the last few years...

by NorthernLights | 26th Apr 17, 10:11am 1493158308

That single Chinese woman could be the local nominee
The permutations of who actually is behind property purchases in some of the Chinese community would leave detectives scratching their heads
This is the case in Canada the USA and Australia and Europe
The only people who choose not to admit this are the NZ govt

by JJS | 25th Apr 17, 5:04pm 1493096668

Visited three open homes in central Auckland last weekend, at two of them I was the only punter there and the agents looked very bored! What could possibly make the auction clearance rate any better going into winter? One agent also told me to expect many more listings in the coming weeks as they had done many appraisals over the last couple of weeks where vendors had taken time off over Easter to spruce up properties to get them on the market before winter. Very interested to see what happens over the next six months...

by Fritz | 25th Apr 17, 5:57pm 1493099854

Prices will fall away significantly

by Joe Public | 26th Apr 17, 12:38am 1493123880

Prices wont fall unless National are kicked out...

Only Labour is targeting demand (foreign student , work Visa buyers plus Non Resident)
http://www.labour.org.nz/cracking_down_on_speculators

National has turned a blind eye to them and even ensured that the data regarding the number is not available for the public (seriously LINZ it has been over 2 years since the request was made)

by Simo | 26th Apr 17, 7:36am 1493149002

The government are only now worried about the price of houses for young families. Is there an election coming up or something?

by two otherguys | 26th Apr 17, 8:27am 1493152069

This has been a trial run to see how gullible the great unwashed are

by Cowpat | 26th Apr 17, 9:57am 1493157460

Got a spare $206million. The amount of property that did not sell at Barfoots auctions between 10-21 April. On track for lowest Barfoot April sales ever?

by CJ099 | 26th Apr 17, 9:20pm 1493198418

Yes and the listing are starting to build up again on TradeMe for Auckland, currently at 10957.

by Trying to build | 26th Apr 17, 9:38pm 1493199524

I hope so, and all those dodgy RE agents start suffering