Sales rates at Barfoot & Thompson's latest auctions ranged from 31% to 50%

Barfoot & Thompson had an overall sales rate of 43% at their auctions last week, although the total numbers were low with just 111 properties marketed for sale by auction.

All but one of the auctions achieved sales rates of between 40% and 50% (see table below), which is in line with other auctions during recent weeks.

The one exception was the auction at the Shortland Street rooms on 28 July, which achieved a sales rate of 31%.

Most of the properties at this auction were in Auckland's western suburbs and included properties at Henderson, New Lynn, Sunnyvale, Glen Eden, Te Atatu South and Swanson.

The full results with the prices achieved on the properties that sold are available on our Residential Auction Results page.

Barfoot & Thompson Auction Results 24=30 July 2017
Date/Venue Sold* Not sold* Total % Sold
24-30 July. On site. 2 2 4 50%
25 July. Manukau 9 13 22 41%
25 July. Shortland St, CBD. 3 2 5 40%
26 July. Mortgagee/HighCourt. 1 1 2 50%
26 July. Shortland St, CBD. 10 12 22 45%
26 July. Whangarei. 4 5 9 44%
27 July. North Shore. 13 16 29 45%
27 July. Shortland St, CBD. 2 3 5 40%
28 July. Shortland St. CBD. 4 9 13 31%
Total 48 63 111 43%
*Sold includes properties sold under the hammer or by 5pm the following day. Not sold includes properties remaining unsold by 5pm the day after the auction, plus those that were withdrawn from sale or that had their auction date postponed.

We welcome your help to improve our coverage of this issue. Any examples or experiences to relate? Any links to other news, data or research to shed more light on this? Any insight or views on what might happen next or what should happen next? Any errors to correct?

We welcome your comments below. If you are not already registered, please register to comment or click on the "Register" link below a comment.

Remember we welcome robust, respectful and insightful debate. We don't welcome abusive or defamatory comments and will de-register those repeatedly making such comments. Our current Comment policy is here.

16 Comments

Prices will have to come back further to meet the market as the market has further to fall. Election and spring will be interesting to see if there will be a flood of properties listed. Buyers are not bidding like drunken sailors anymore and been wary.

Good clearance rate all things considered. Finance is not easy to get and many buyers aren't bothering with auctions. Still nearly a 50% clearance. Wow.

I hope these recent buyers don't become exemplars of The Greater Fool Theory

Yes, a leading indication that vendors are starting to be more "realistic". Still a long way from the 80% clearance we used to get.

I don't care who is the PM as long as the house prices keep going up I am happy.

up
12

I don't care who is the PM as long as the house prices keep going down I am happy.

You may be unhappy for some time then. My condolences.

How about house prices keep going up, but they're now subject to land value tax?

There, There DGZ. It will be alright in the long run just vote for anyone else except National, since they put us in this mess in the first place by being negligent and just down right lazy.

We just need to let logic take its course and allow property prices to bottom out to around affordable levels and then they'll gradually rise back up again with increasing wages. Quite straight forward really.

Have you grabbed a copy of the latest QV Monthly Property Market & Economic Report? Pick one up here: https://goo.gl/YWr99r

Ardern has a strong communist interest. May be when she's becoming PM, everything will belong to the state.. House prices going high or low..it doesn't really matter!

Haha ..."Watch out! Reds under the beds!"

People should study the background and voting decisions of prospective candidates. Don't just go on pretty looks, or thinking it's time to give another generation a go. People of my particular demographic need to be particularly careful about this. Now I'm not saying Adern has, but if someone has advocated replacing "stale, pale, males" in the past then they should be rejected if you are part of that demographic. There is a considerable amount of hostility out there that shouldn't be ignored. Labour made a terrible misjudgement when Cunliffe did his apologising for being a man madness a little while ago. This is no longer a joke.

Realtors must be struggling with the low volume of sales going through. They've talked the property market up for years and now the party is over. Days have gone just getting a listing and then sold at auction easily.

Yep, tough times coming in that industry, I would say

Some of them might have the time now to start spruiking on this site.......... oh wait.