Prices started at $810,000 at Bayleys' Auckland auctions, $415,000 in the Waikato

This three bedroom character home in Devonport sold for $1.215 million.

Bayleys Real Estate had a 39% success rate at its latest Auckland auctions, marketing 18 properties for sale by auction and selling seven.

The properties offered ranged from an upstairs unit in a two storey block in Herne Bay to a large residential development site at Northcross on the North Shore, and included properties in Henderson, Matakana, Devonport, and Whitford.

The properties that sold ranged in price from $810,000 for a three bedroom/two bathroom house with a double garage at Flat Bush, to $1.735 million for a three bedroom bungalow in tidy condition at Westmere.

Bayleys' Hamilton auction rooms were busy last week, with 11 properties offered at auction and sales achieved on four of them.

The properties offered included five commercial properties ranging from a rural supplies depot at Taupiri to a flower growing operation with attached owner's accommodation at Kerepihi (check out the prices and details of the commercial properties that sold on our Commercial Property Sales page).

On the residential front, the properties offered included houses in Hamilton and Morrinsville and lifestyle blocks in Waerenga, Maramarua and Paeroa.

The full results of the residential auctions with prices of the properties that sold can be found on our Residential Auction results page.

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A happy weekend to everyone.


Same to you. A stormy night in Auckland and a bit windy this morning but the sky is clear, the power walkers are out and the harbour is as beautiful as ever.

Sounds like 1071 talk.

Yes, I struggle to think of a better urban place to live in NZ. This years house turnover in Kohimarama equates to 4.3% which means residents stay an average of more than 22 years. Heavens holding pen? Absolutely.

LOL I didn't but still own there. Maybe I'll go back one day ^^

Ex Expat , how did you come to that conclusion.

Turnover rate? Sales for the year to July, extrapolated to December (very similar to last year) / number of dwellings in Kohi East and West (as reported in the 2013 census).

We have bought two houses in Kohi. First one was held by the previous owner for 21 years. Current one was 28 years, so it seems plausible.

Auckland sales to date this year 14748, over past year 22161 sales. Turnover rate (Auckland using 547000 homes, Stats NZ estimates June 2017 ) 4.05 percent. Kohi ,not so popular after all, below Auckland average. Below 4.0 percent flags structural pricing issues within real estate markets. When Auckland had a turnover approaching 10 percent in 2002/3 or an 8 percent turnover rate in 2014 was that because Auckland was a crap place, or possibly other reasons.? Dublin's current turnover rate 2.2 percent, that's 45 years.

How interesting - the below 4.0 percent flag. Someone should apply that to all our NZ markets. I love stats.

If those sales are to 31/7, then using the same method I did, you end up with 25,282 of sales and 4.40% turnover I'm surprised the overall market turnover is so low. Thinking more about it, turnover levels could be due to many things e.g. If you can't afford to move then you won't. It doesn't necessarily mean a suburb is more popular. I suppose the most reliable indicator in that case is price.

Ex Expat, the numbers I gave are those for 31/8 (REINZ ,which will account for the majority of sales). The Auckland turnover rate, historically, is significantly higher than New Zealand ex Auckland ( people prefer everywhere outside of Auckland conclusion? ). For the numbers I have ,since 1997, turnover rates for Auckland of circa 4.0 percent have only been breached briefly in 2010 and 2008., when contributing factors were significantly different. At times , Auckland turnover could have seen stock of homes mathematically changing within 10 years. So at present we have historically low interest rates, apparently mass migration to Auckland, pent up Chinese demand, cashed up offshore buyers, property shortages, a 'strong economy ',low unemployment, and yet we have historically low sales/turnover rates, and real estate companies requesting LVR restrictions be lifted. The REINZ figures are unconditional sales, the sale numbers for June- present have collapsed. Real estate agents advertising one off reduced commissions , political parties offering increased first home buyers grants are symptoms /conditions of a weak and weakening market. The longer Auckland's market sticks around that 4.0 percent turnover rate the more anomalies will be revealed. The election outcome will provide no meaningful relief.

Pleasant morning in Palmerston North too.

And good, well-built houses in good locations available here for under $500,000. If you're an Aucklander or Wellingtonian, this is bliss! University city with international airport - and good career opportunities across the private and public sectors.


Where can you fly to from the airport, genuine question. I am somewhat sceptical of these small international airports - rotorua had to cease it's international flights after the council stopped subsidising them.

Was Freedom Air to AUS but no longer - domestic only.

Double post

OMGosh ! Palmy Nth tothepoint ?
Surely not from "farming" ?

Can't wait until this election is over then maybe we can go back to talking about the housing market. ;)

Agree with you, Clemente.

The election campaigning has been a major distraction.


Yes, this period has been an eye opening view into the minds of friends. Family and the General public. I'll be glad when it's over, albeit things will never quite be the same with some friends. It's like they've come out of the closet.

This is just the start Ex Expat....the times are a changing....there's a shift in mood and its gaining momentum, regardless of who wins this might miss the bus....Infinity and beyond house prices, excessively high immigration, lack of spending on services, water quality, are all issues that aren't going to be tolerated much longer....

Unless National show some flex - their time in charge is limited...(you can only fool 45% of the voting public for some of the time....)

Show some flex indeed - the billshitter on the news last night saying (on river pollution) that it seemed we wanted to get rid of all the cows and urban populations.

Totally bereft of ideas when that is all he can come up with. The polluting of rivers is not a "neccessary evil" Bill, indeed the alleged 100% Pure idea is the reason we have a successful dairy and tourism industry and the continual expansion of the dairy industry using current practises and urban population by immigration is not sustainable.

The world knows we have a problem so there is no use hiding our heads in the sand and shouting down the questions as Key tried to do by bad mouthing our scientists back in 2011 on the BBC Hartdtalk program.

Why doesn't Billshitter simply conduct a binding referendum at the same time as the election and find out what the people want - you know - a plebiscite

It's like they've come out of the closet.

That's really interesting, Expat and I'd be keen to understand in what way they've come out of the closet. Were they previously 'for' or seemed to be accepting of some aspect of the way things were/are but now, with this election seem to have had issues that were festering below the surface?

It's a similar phenomena that I noticed with my friends/relatives in the last US election.

Kate - it's because it hasn't been acceptable to speak out about whats actually going on until'd become a social outcast if you spoke the truth.

E.g. go to a BBQ with family and friends and disagree by saying that you think the housing market is in for a significant correction or that is a disgrace that investors have been outbidding young families at's like you just told a bunch of 5 years olds that Santa isn't real.....there are tears and a grudge is held against you for months....(or forever!).

I've found Kiwis like to live in a state of what I call 'wishful thinking'.....the mindset of 'isn't this splendid'......reality isn't quite so nice but I've found its best not to talk about because it goes down like a cup of cold sick - but it seems that over the last 6-12 months or so people appear to be waking up and realising that perhaps we haven't been completely honest with ourselves...on a bunch of issues...which is great...lets start talking so we can address them and move forward....

More like all expats group told him they're voting labour

Does that mean people are a bunch of sheep

People like to do the same things as others in order to fit in - and because there's an element of safety (or feels that way) right in doing so? Be it fashion, opinions, political views, methods of investing (shares in '87, housing of late, ostrich farming...whats next?)

I think a lot of National voters are national voters because they think its the safest place to be - they have no idea why they're National voters though if you pushed them for an answer - they'd reply with something like because they're 'safe' or they 'have experience' or 'they're delivering on the economy' when they have no idea what that actually means. So people are just being influenced by what they think they're supposed to be thinking and doing in order to fit in as a 'kiwi'. Long term National supporters are basically a vanilla flavoured self-licking icecream that thinks it likes vanilla flavour - and if you ask it if it likes chocolate flavour it will say it doesn't even though it has never tried it, primarily because it has decided it can't lick anything else based upon zero rational reasoning....

Because they want Auckland house prices to go bananas hahaha!

My family votes the full range and the ones that are passionate about their choices live their values. I respect those as I see concurrence of belief and action. I have more of a problem with the shallow thinkers and champagne socialists. Sorry, but if you intend to vote based on a smile or profess solidarity with the poor after a long European holiday but have never done anything to help them then you're a hypocrite. I do think Jacindas star dust has affected some of them and they wear Labour like a fashion statement. I refuse to have people in my house I don't respect so it's going to be an interesting time ahead where they are my wife's friends.

Thanks appreciate the response, but I hope you think differently at some stage down the track. Professing solidarity with the poor is called empathy in my book, whether one holidays in Europe or not.

A low on the radar (yet explicit in its intent) with respect to neo-liberal doctrine, has been the notion that philanthropy/charity/volunteerism should address the plight of those in society with disproportionate challenges.

I never bought into that aspect of the ideology, but you can see how insidious it has become. Slowly food banks became overwhelmed. All sorts of charities sprouted up to provide school lunches. We only ever used to hear of the Salvation Army on a Saturday night in the pub when they did the rounds for donations - now they are in the news weekly. The amazing growth of the 'Give A Little' campaigns speaks massively of our time. We have nearly 30,000 charities registered in NZ;

It is time the government stepped up. It's why I (and I think most people) have always happily paid taxes.

Thing is, no election is worth losing friends over.

The Left don't have a monopoly on empathy. My wife works at a decile 1A school and is well placed to see real need and we give direct through a related charity, often in goods e.g. Children's beds, grocery packs. When we were overseas, we directly paid other children's education fees. However, equally I believe that individual wealth and collective responsibility are not mutually exclusive. I have a real problem with the politics of envy evident on these threads. We live a comfortable life because we educated ourselves and saved what we earned. All going well, our children and eventual grandchildren will be able to afford houses in Auckland because we didn't squander the wealth or had it taxed off us.

Isn't the point though, Expat, that your children and eventual grandchildren should be able to afford to house themselves and live a comfortable life in Auckland based on their own effort, not yours.

Same goes for those kids in the Decile 1A school - why should they have to rely on charity when NZ has such a low unemployment rate? Most of their parents are likely working. And if they're not, well all the rest of us with jobs are paying taxes. What's wrong with this picture?

We rented until we were 40, at which stage we put a 50% deposit down on a house, almost all of it saved from working overseas. Renting suited us as we could move when we wanted and it was a lot cheaper than owning. In the end, we bought because our savings were going nowhere in bank deposits and we didn't trust other investment classes. We didn't see it as our right to have a house in Auckland. I don't know why there is this obsession about owning in the most expensive market in NZ, bar Queenstown. We have told our children that their future possibly lies overseas. They will be just fine if they can't buy in Auckland as they can rent like we did. The buying equation will be no different if they end up in any other major city overseas, even those with CGT.

As for the Decile 1A school families, there are a multitude of reasons why some of them need charity. Fathers in prison is one reason, the financial weight of extended family is another. My Wife sees BE's social investment program as the right approach. No amount of money will fix some of the problems she sees e.g. The child left waiting in the school office an hour after school ended is going to have doubts about parental love at some stage.

What you claim to have done is down to being born at a better time.

Another version of you ten or twenty years younger who works and saves just as hard as you think you did is totally stuffed and this is down to deliberate policy decisions by the party you astroturf for.

This will undoubtedly go in one ear and out the other but run a thought experiment where your kids get no help or handouts. Not such a bright future.

You along with other Left wing male posters could do with an EQ lesson from Kate or Gingerninja if your objective is to change minds here. The passive aggressive phrase in your post just feeds my stereotypical view of the Left as arrogant and angry.

Expat the sky isn't looking good in 1071 this morning I predict heavy rain to set in from left to right ^^

DGZ, look for the positives e.g. the roses in my garden are getting unmetered water. In any case, I'm flying out of the Country today for work (obviously not entitled enough to retire!) and won't be here for Election Day. The result looks like it could go either way. I'm relatively relaxed as Jacinda has ruled out any taxes that can impact me in my remaining working life, then I plan to feed at the trough rather than fill it.

Double -GZ , I was hoping to spray grass this morning. Up early , and now it has started to drizzle. This is not meant to occur in Remuera.

You should fertilise your lawn instead - it's perfect on a drizzly day according to Tony Murrell ^^

The sun breaking thru. With a name like mine , truly do I need to fertilise ?

SUN yay!

"saves just as hard as you think" - there is a lot your lovely turn of phrase. There is a certain segment of society that will think that other people should be as good as they think they are. Inevitably they are linear thinkers. Usually above average intelligent, but not truly bright.

Scarfie - to be truely intelligent is it better to act in self interest or the interests of other people?

I recall fitch farms - one of our neighbours got a lovely coat out of her husbands losses.

I've found Kiwis like to live in a state of what I call 'wishful thinking'.....the mindset of 'isn't this splendid'......reality isn't quite so nice but I've found its best not to talk about because it goes down like a cup of cold sick - but it seems that over the last 6-12 months or so people appear to be waking up and realising that perhaps we haven't been completely honest with ourselves...on a bunch of issues...which is great...lets start talking so we can address them and move forward....

Most people make decisions based on their emotions so I understand what you're saying. Even if you build a case as to why buying houses is a financially sound thing to do, those decisions are based on assumptions that are usually dripping with urban myth (for ex, "house prices double every 7-10 years", "house prices increase at the rate of inflation"). They will choose the assumption based on their feelings, not because of probabilistic certainty. Typically people will think that the future will be similar to the immediate past. The real problem lies in the fact that govts milk bubbles for all their worth, which usually means an exuberant population who spend money freely based on the wealth effect. The phenomenon can be seen across all bubbles. Should the bubble pop, typically govts have an easy way out because the typical reaction to a burst bubble is "couldn't see it coming."

The work of psychologist / behavioral economist Daniel Kahneman should be required reading at high school and universities.

Yes have read 'Thinking Fast and Slow' by Kahneman - amazing how wrong we are on what we often assume to be correct...

Independent _Observer. Is there anything you think is different between the boom of labours and national. Not the overseas investors part or immigration. People and dept

O4 Normal - I'm not sure if I understand your question. Are you referring to the 'boom' in terms of political support for Labour/National, or boom of housing and share markets?

Housing and the way people make there decisions. 2002 to 2008 and could have keeped going if it wasn't for the GFC seemed more controlled, balanced . I don't know. But 2014 to 2017 seems wild . Maybe I should put it this way. The first one seemed like a economy simply doing well and patting themselves on the back by upgrading in housing. But this one seems like , sorry seemed like a bubble on steroids

Should be compulsory reading in school

Should be compulsory reading in school

Does this mean the bubble has popped ? 5000 extra apartments on the market going to make some waves

That is an odd story. From what I can tell from the story they borrowed money for a 10% deposit and then just assumed the banks would lend them the remaining 90%. Seems sort of unbelievable really. Apartments always seem to be problematic in Auckland. I'd stay away from them personally. What's wrong with a nice two bedroom brick and tile unit?

Unsophisticated buyers by the look of it. The Banks have had periods where they limited funding based on size and also had low LVRs. If these buyers didn't do their homework then they can't blame anyone else.

As for brick and tile, I imagine there's a real price jump to those from an apartment.

Something is missing here - I don't think banks have ever supplied 90% funding on apartments

The 10% deposit may have been the initial off-the-plans deposit to get things locked down, but buyers would have been required to front with a lot more than 10% equity by the time it came to settlement

I think more to the point over those appartments is banks were giving out money 6 plus months ago and now they aren't

Has anyone noticed that all the RE agents for The Block NZ houses this year have Chinese sounding surnames?

No surprises there - Northcote is Auckland's Chinatown

Auckland is nzs china city

and Vice Chairman Sir Chong Kee is the local Guvnor

I can't watch the Block auctions from overseas but the Herald coverage makes it look like a real fizzer. What developer would build in this environment?

Auctioneers are struggling to reach reserve on The Block auctions.
Contestants not making much margin. 1000 on first house.
All buyers are of non-European origin.

I have a feeling this may be the last year of the Block.
Its painful to watch...

Next year they may move to one of the provincial cities where they are still experiencing strong price growth!

Yeah, they too need to get out of Auckland. Very sad.

Well, they need to get in quick as it is not going to last, if Auckland continues to putter out, the regions will follow very shortly. I reckon they are still running on residual money, people who have already cashed up in Auckland and haven't yet bought, they will run out of those types of people pdq, first home buyers are not the best prospect unless there are decent jobs. People who have cashed out of Auckland and have some left over after purchase won't be under pressure.

Still a lot of retirees or semi-retired arriving from Auckland, and adding several hundred thousand to their retirement fund after buying a house.

If they haven't yet cashed up yet they won't be, certainly not to the same degree

Yeah some would have cashed up in Auckland but its hard to miss out in a crash unless you sell and went renting . Maybe if you sold high and brought very low and put the balance in the bank. I've been studying houses in Tauranga that have sold over the last 3 years. As Aucklands prices went up so did tga and I guess Hamilton etc . A lot of people sold on the way up in Auckland and brought in tga etc. So most Aucklanders that brought in tga were buying in a boom. Just different stages. Except a small amount very early on. On average in tga houses are $300000 higher because of this boom and without Aucklanders cash holding the market up elsewhere I'm afraid anyone holding a house or houses is out of luck. Aucklanders brought a lot of rentals in papamoa too. Very nice rentals . Normally family homes. Houses in that area are easily up $300k and there's been massive building going on there. If the papamoa market takes a dive there's a over supply of houses. That could get scary

Hamilton market has already slowed a lot, and there is a sh*t load of new subdivisions and building still on the way.

Papamoa s the same . Now builders are trying to rent new homes because the market is flooded. This is going to end badly. You can see big differences in prices with the lowest still not selling. Some are in lala land. But owell they'll just have to keep it. In the long run houses good. But it does help to be happy about what you own

I said a few weeks ago it could be interesting and thought what has happened would happen

I said last week to a mate that those block houses would have gone for $2million each but they'd better be quick. Sorry two months late


Remmers is falling. And has no land available.

All four properties sold but I must confess I fell asleep during the show and had to look up the results on Stuff. Somewhere out of Auckland would be better or perhaps choose more interesting proper Auckland type houses. I'd say the show has done its dash though. I'd like to see a show following couples who have fled Auckland to make a go of it in the provinces.

The block houses would have gone for $2million each early this year. Shame. I'm really surprised. No way a election would have put people off that. Buyers must think the market is in for a big correction. And can't service such big mortgages if they could get the loan in the first place

Did you see who was buying? I don't think they were FHBs, or born in NZ.

The Block organizers usually put a fairly high reserve on them. I doubt they would have fetched 2M earlier this year, they were terraced houses weren't they? Buyers aren't willing to pay over the odds in the current market especially for terraced houses.

Yes, they set the reserves too high.
They may have got a better result by setting the reserves about 1.1 then letting the auction get some pace and steam.

This was the most informative comment on the Stuff article:

For the last three seasons I have visited the block homes and these homes in Northcote were in a street with alot of Housing Nz properties and directly opposite a social housing high density development which certainly would effect house one. Northcote was not a patch on previous seasons in St Johns, Pt Chev and Devonport. Very surprised the auctions went as well as they did.

Yes indeedy. In actual fact the auctions would have been a fabulous success if the reserves were much lower.

They come all fully kitted out, though, don't they?

Turned into terrible reality TV, I missed most of it fortunately; many off the characters were unlikeable and the whole thing had the feel a tedious game show. Buying a do-up, then doing a bad reno and flicking if off for a big profit now seems so unfashionable, like reliving 2006 (or 2015) again and again.
A tip for the producers for 2018 - consider building dwellings for the homeless on a tight budget or a revamp of a collection of shitty rentals so they pass and ace a rental WOF.

My money is on Mark Richardson being out of a job next year, well that part off it, anyway

Yeah and learn a little about cycles but I guess they couldn't end the show early. Just bad luck and timing. Yeah for the homeless and no profit.