Barfoot & Thompson's auction sales rate goes past the 50% mark

Fewer Barfoot & Thompson auctions in the last week of winter but the overall sales rate passed the 50% threshold

Property

Fewer Barfoot & Thompson auctions in the last week of winter but the overall sales rate passed the 50% threshold

4th Sep 17, 2:46pm by Greg Ninness

Barfoot & Thompson's overall auction sales rate nudged past the 50% mark for the last week of winter, although the number of properties going to auction remained low.

Barfoot's marketed 95 properties for sale by auction last week and sold 50 of them either under the hammer or by 5pm the following day, giving an overall sales clearance rate of 53%.

At the major auctions, sales rates ranged from 46% at the Manukau auction to 69% at the Shortland St auction on 31 August (see chart below).

At the North Shore auction there was a 57% sales clearance rate.

Prices on the properties that sold ranged from $279,000 for an apartment in the CBD to $2.36 million for a house in St Heliers.

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

**Barfoot & Thompson Auction Results: 28 August to 3 September 2017**
Date/location	Sold*	Not sold*	Total	% Sold
28 August - 3 September. On site.	0	2	2	0
29 August. Manukau.	11	13	24	46%
30 August. Mortgagee/High Court auctions.	1	0	1	100%
30 August. Shortland St, CBD.	15	11	26	58%
30 August. Pukekohe.	2	3	5	40%
31 August. North Shore.	8	6	14	57%
31 August. Shortland St, CBD.	9	4	13	69%
1 September. Shortland St, CBD.	4	6	10	40%
Total	50	45	95	53%
*Sold includes properties sold under the hammer or by 5pm the following day. Not sold includes properties that remained unsold by 5pm the following day plus properties that had their auction date postponed or that were withdrawn from sale.

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14 Comments

by CJ099 | 4th Sep 17, 2:54pm 1504493674

I see we're still playing the small numbers game in terms of volume sold, wasn't it all meant to bounce back in the Spring? Well here we are Spring! Not much has changed has it.

by D-Back | 4th Sep 17, 3:09pm 1504494593

I don't think anybody expected or predicted a bounce back three weeks before an election.

Not that I expect one after however

by O4 normal | 4th Sep 17, 3:40pm 1504496453

After the election is where things will get interesting. If no bounce just how will people take that. Hopes are very high. We will finally be at the end of the "what ifs time" very soon. Is there enough demand out there to keep prices flat or lift?. Where will listing numbers go after the election

by Smalltown | 4th Sep 17, 3:58pm 1504497488

Expect to see some ex rentals start flooding the market following the recent court ruling that rent had to be repaid where the tenant was found to be living in a house with unpermitted alterations. Owners will be running away from this issue as fast as they can so buyers need to be looking very closey to the building, plans and LIM else they will be stumbling into a whole can of worms as a lot of rentals I have seen look pretty mickey mouse, several in student digs in PN looked like they had been put together by a drunk, obviously unpermitted.

by bw | 4th Sep 17, 4:06pm 1504498014

" the recent court ruling that rent had to be repaid where the tenant was found to be living in a house with unpermitted alterations."

Very interesting.....

by RickStrauss | 4th Sep 17, 5:21pm 1504502479

Does seem rather tricky, that - I guess it's in the vein of selling something that isn't "fit for purpose". Might be something tenants end up keeping an eye on for trying out if their landlord gives them the short shrift.

by Ralph | 4th Sep 17, 4:13pm 1504498393

It doesn't take much imagination to see how the next domino to fall could be the immorality of empty houses during a housing crisis.

by NZXY | 4th Sep 17, 5:10pm 1504501805

How far away is the Chinese New Year?

by tothepoint - d… | 4th Sep 17, 6:13pm 1504505623

I'm surprised how active the house market has been - so close to the election.

And in Auckland, there's very little slippage in prices. In fact, some suburbs are still recording increases in average price.

A few pessimists here had been predicting the Auckland housing market would now be in the doldrums - having fallen through the floor by winter 2017........... No doubt some of these people will now respond that a crash is just around the corner..........

The problem for them is that the corner never seems to come. And as time passes, their credibility diminishes.

by J.C. | 4th Sep 17, 6:03pm 1504505034

Pessimists vs Optimists / Red vs Blue / Right vs Left / Auckland vs Canterbury.

Like the latest flick in the Star Wars franchise.

by Ralph | 4th Sep 17, 6:15pm 1504505731

I suspect the only thing the media loves more than a fight is if the news is about themselves.

by vman | 4th Sep 17, 8:31pm 1504513862

Keep partaking the medicinal herb...or is it something more hallucegenic...

by RichMuhlach | 5th Sep 17, 8:52am 1504558342

Hi tothepoint,

You write: "A few pessimists here had been predicting the Auckland housing market would now be in the doldrums - having fallen through the floor by winter 2017"

Please, could you please quote at least ONE instance or ONE person who mentioned that prices would fall through the floor by winter 2017. I'm not even asking for a few .. I just want ONE example. Just ONE.

You have a knack for exaggeration. No one here has said prices would fall to the floor by winter 2017.

by Averageman | 5th Sep 17, 7:50am 1504554624

Yawn. Agents on life support due to tiny sales volumes. Wait till the election, not long to go, then lets see the impact of a specuvestor taxs, I mean capital gains tax, and a few other targeted legal changes, ring fence etc.

Would expect to see normal investment criteria reemerge (yield) vs. farming debt for tax savings, which also means a decrease in prices further. Procfessional yield focused investors wont blink, specuvstor debt junkies masking income will be crying a river.