B&T's auction sales rates ranged from 71% on the North Shore to 20% at Pukekohe

Property

Barfoot & Thompson sold 54% of the properties overall at their auctions in the week before the election

26th Sep 17, 3:14pm by Greg Ninness

Barfoot & Thompson sold more than half of the properties the agency marketed for sale by auction last week, with a particularly good result on the North Shore.

Sales rates varied widely from auction to auction, ranging from 20% at the Pukekohe auction to 71% at the North Shore auction.

Sales at the Manukau auction remained more subdued with a sales clearance rate of 29%.

At the Shortland Street auction rooms, where most of the properties in central and west Auckland are auctioned, sales clearance rates ranged from 52% to 64% (see table below).

Prices ranged from $345,000 for a two bedroom unit at Tikipunga in Whangarei, to $1,701,000 for a four bedroom villa at Westmere in Auckland.

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

**Barfoot & Thompson Auction Results 18-24 September 2017**
Date	Venue	Sold*	Not sold*	Total	% Sold
19 September	On site	1	2	3	33%
19 September	Manukau	4	10	14	29%
19 September	Shortland St, CBD.	8	5	13	62%
20 September	Mortgagee/High Court	2	2	4	50%
20 September	Whangarei	3	3	6	50%
20 September	Shortland St, CBD.	12	11	23	52%
20 September	Pukekohe	1	4	5	20%
21 September	North Shore	15	6	21	71%
21 September	Shortland St, CBD.	8	5	13	62%
22 September	Shortland St, CBD.	7	4	11	64%
Total		61	52	113	54%
*Sold includes properties sold under the hammer and those sold by post-auction negotiation by 5pm the day after the auction. Not sold includes those properties that remained unsold after 5pm the day after the auction, plus those that were withdrawn from sale or had their auction date postponed.

We welcome your comments below. If you are not already registered, please register to 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.

71 Comments

by Retired-Poppy | 26th Sep 17, 3:45pm 1506393958

Again - manipulating the figures is not going to spin it! Market still sick, spring has sprung and listing times will only lengthen. Sorry Barfoots but, this IS reality knocking at the door.

by J.C. | 26th Sep 17, 5:06pm 1506398816

Nope. I don't see how you can call 113 auctions across arguably one of the hottest real estate markets in the world "manipulating the figures". It is what it is.

by theglc | 26th Sep 17, 6:54pm 1506405243

Over 50% is a good clearance rate given they have averaged mid 30s of late.

Maybe the polls saw Winston as kingmaker and the vendors hit the sell button

by andrewNZ | 26th Sep 17, 3:51pm 1506394318

Surely this lagging election result is having an effect, will be interesting to see late-October sales

by CJ099 | 26th Sep 17, 5:21pm 1506399695

71% clearance in one area may sound a lot but it's still really low sales volumes and prices are slipping. People are having to meet the market and be more realistic about prices if they want to sell.

by O4 normal | 26th Sep 17, 5:58pm 1506401893

Naturally you will get more sales if you drop the price. Come on now. This back and forth will go on for a year or so. In the end auctions will disappear , sales will take months, stagnant. We will need to fine the price people are willing to sell and buy. The sooner we get there the better. It’s only then we can get on with it

by tothepoint - d… | 27th Sep 17, 6:57am 1506448629

Hi O4 normal,

You write, "It’s only then we can get on with it".

Alas - I think you'll be waiting a long, long time........

by O4 normal | 27th Sep 17, 10:51am 1506462703

Hi pointmade.
Then you’ll be waiting a long long long time for demand to pickup because prices need to go down to start picking up. We’re doing a repeat of 2008 x worse.
There’s stuff all buyers left specially in the more expensive bracket. Readings each month on sales and prices will keep falling

by PointMade | 27th Sep 17, 11:36am 1506465397

Hi Q4 Normal,

You write "There's stuff all buyers left" - alas I don't think so. I just need to walk around the neighbourhood to prove that wrong.

by gingerninja | 27th Sep 17, 12:15pm 1506467730

Pointlessx2 This is getting very silly.
What do you hope to achieve by trying to talk up the market? Are you labouring under the delusion that you can single handedly convince potential buyers that they can afford houses 10x+ their combined salaries, that they can miraculously materialise sufficient deposits, that most of the world's financial experts haven't called the peak on the NZ housing market or loudly pointed to the danger of NZ household debt at 168% x income?

I appreciate that NZ has a small population and there is a tendency to overstate the value of anecdotal and word of mouth testimony but serrrriously. It's getting very silly at this *point*. Anyone can check sale volumes. Anyone can check what prices are doing and no one is going to be harried by your endless and transparent attempts to create FOMO.

by tothepoint - d… | 27th Sep 17, 1:14pm 1506471243

Hi Gingerninja,

My interest lies solely in monitoring and evaluating the market.

TTP

by Independent_Observer | 27th Sep 17, 1:21pm 1506471717

Through what paradigm and confirmation bias?

by gingerninja | 27th Sep 17, 2:21pm 1506475280

Tothepoint, that is patently false, because you never evaluate any of the news objectively or neutrally. You exclusively suggest that the market will keep going up, or massively understate any news about the market slowing. EVERY. SINGLE. TIME.
You have never acknowledged the very real and possible risk that the market could utterly tank. Now, personally, I have never stated that there is overwhelming evidence to categorically state that the market will crash either. There are still several possible outcomes based on the current data (long term market stagnation is also a likely scenario). However, I at least acknowledge that a crash is possible, and becoming more likely. You jump at every possibility to interpret the continuation of a boom and occasionally make really transparent comments about how you would like the market to crash so you can buy a house in X or Y area. But you always present those comments as if they are a very unlikely scenario.
It's so transparent as to just appear quite silly.

by PointMade | 27th Sep 17, 4:22pm 1506482578

Hello gingerninga

With respect, I think its is fine to have an opposing view to the naysayers here, look at this article "Some people buy investment properties to make a long-term profit - as prices rise over time" source: https://www.barfoot.co.nz/landlords/help-and-tips/return-on-investment

by gingerninja | 27th Sep 17, 4:39pm 1506483557

Pointmade,

You have EXACTLY the same writing style as Tothepoint.

What has this estate agent guide to encourage investors got to do with anything? It makes no comment on the market. It presents no data. It offers no reflection whatsoever on the market.

And I haven't criticised TTP for having an opposing view but for only having ONE view that doesn't waiver, even slightly, in the face of contradicting data.

by NZXY | 26th Sep 17, 6:00pm 1506402023

The North Shore is selling but vendors are swallowing dead rats - all good for the agents of course

by gingerninja | 27th Sep 17, 2:23pm 1506475426

NZXY what does "swallowing dead rats" mean? I've googled it but can't find any explanation. I'm guessing it means that the seller is taking a hit on the price?

by Ex Expat | 27th Sep 17, 8:07pm 1506496024

This should give an idea of the sense http://i.stuff.co.nz/national/politics/4842249/Judith-Tizard-not-return…

by Ex Expat | 27th Sep 17, 8:08pm 1506496100

Ms Tizard said Labour leader Phil Goff had not asked her to stand aside but had sounded like he was "chewing dead rats" when he told her she would be welcome if she decided to return.

by PointMade | 26th Sep 17, 6:54pm 1506405250

Top of the morning ! Another result. Hope to buy a place in PONSONBY some day.

by theglc | 26th Sep 17, 6:56pm 1506405386

are you sure you are not @tothepoint

by Independent_Observer | 26th Sep 17, 7:48pm 1506408530

With you theglc......pointmade is TTP's doppelgänger

by PointMade | 26th Sep 17, 7:30pm 1506407443

Hi theglc

I'm afraid I am not. However I will say that I admire that user. Very honest, intelligent and candid.

by Narrabeen Boy | 26th Sep 17, 7:50pm 1506408625

And where has dgz and Zachary disappeared too????

by Double-GZ | 26th Sep 17, 7:51pm 1506408680

I'm here LOL!

by Narrabeen Boy | 26th Sep 17, 8:22pm 1506410556

Oh great!!!!missing your posts mate!!!

by Double-GZ | 26th Sep 17, 8:23pm 1506410614

I'll refrain myself from posting until we know who the new government is.

by Zachary Smith | 26th Sep 17, 10:09pm 1506416992

I'm here too!

by Eco Bird | 26th Sep 17, 10:24pm 1506417868

lol, thought you guys were on holiday :)

by gingerninja | 27th Sep 17, 2:25pm 1506475536

Zachary is on perpetual holiday. Because he lives in Elysium ;-)

by tothepoint - d… | 26th Sep 17, 8:29pm 1506410953

Hi everyone,

Have to say I'm as curious as everyone else about PointMade.

I can assure you that I've no idea who he/she is, or the reason why he/she tends to endorse my comments here.

by theglc | 26th Sep 17, 8:41pm 1506411663

Ive heard of copycat murders but copycat bloggers..... lol

at the very least you have a fan

by tothepoint - d… | 27th Sep 17, 6:44am 1506447858

"at the very least you have a fan"

So it appears. But PointMade is in a very small minority! (-;

by CJ099 | 26th Sep 17, 9:46pm 1506415562

Could you have come up with a less obvious user name then PointMade? At least DGZ and Zachary were a bit more imaginative. ;)

by PointMade | 26th Sep 17, 10:36pm 1506418583

Hello CJ099

It is obvious to everyone that that myself, DGZ and ZS are DIFFERENT people. I will leave it at that.

by PocketAces | 27th Sep 17, 8:09am 1506452966

Not quite everyone, or more likely, maybe one or two might believe that.

by Macadder | 26th Sep 17, 8:40pm 1506411659

Well you better get your act together, as many here think you share more than just logins. Bedrooms even, a bit like "Fight Club" but without the fighting and the destruction of real estate.

by gingerninja | 26th Sep 17, 8:53pm 1506412403

**yawn**
(reaction to all of TTP comments)

by Chairman Moa | 27th Sep 17, 1:53pm 1506473607

PointMade is sounded like a certain RE agent at B&T Mt Eden branch.. that greeting "top of the morning!"

by swapacrate | 26th Sep 17, 8:38pm 1506411526

I dont have finger on pulse, but after the block with 1.2's in Northcote and now 1.7 in Westmere for 4 bed villa. I think these prices are starting to sound fairly reasonable for nice areas, close to Auckland.

We will see if there are further drops, but not bad.

by tothepoint - d… | 27th Sep 17, 6:59am 1506448760

The Auckland housing market, has been quiet for a few months. So not too surprising that it's firmed a little over the last week or so.

It's possible that there's been a slight increase in confidence - stemming from National's rise in the polls in the last week or two prior to the election (and now the prospect that it will form a coalition with NZFirst.) Uncertainty has diminished - and that tends to boost markets.

Of course, we can't be certain that the trend will be sustained - but it's quite possible that the Auckland housing market will be more buoyant in 2018 than it's been through 2017.

Auction clearance rates between now and Christmas may provide some indication. But other measures are important too.

TTP

by PointMade | 27th Sep 17, 7:47am 1506451641

Top of the morning. I heard from a RE in Palmerston North that the market was previously a bit quiet but has now picked up a little. Hard to know where this might lead to.

by Didge | 27th Sep 17, 8:31am 1506454305

Not hard at all, DOWN.

by Chairman Moa | 27th Sep 17, 1:50pm 1506473434

Palmerston North.. it's like living in Levin with Wellington's wind!

by NorthernLights | 27th Sep 17, 4:55pm 1506484546

Well well ,
tothepoint lives in Palmy
pointmade says he heard a RE agent in Palmy Nth
Just another spruiker using two names
No surprises Zach & DubleD are quiet
They’ve lost $$ sitting doing nothing but trying to talk back up a declining market
Even the big cities like Toronto & Vancouver have experienced corrections & will continue to do so with the ultra indebtedness of Canadians just like Kiwis living way past their real means
Meanwhile MMP delivers 0 new govt yet !
What a silly system

by Groen_mamba | 27th Sep 17, 8:07am 1506452854

I've heard from an RE yesterday he is sitting on a lot of pent up listings just waiting to flood the market once labour/NZF government is confirmed.

by President of P… | 27th Sep 17, 8:44am 1506455093

I can tell you there are sold signs all over 1071.
Doesn't seem like it's stagnating in this part of town - not going crazy gang busters but certainly not quiet or sticky either. I'd say is back to business as usual ( or unusual if you think it should be 3x income prices)
President of Property

by Didge | 27th Sep 17, 3:50pm 1506480602

Why are so many persons wanting to leave 1071?

by Groen_mamba | 27th Sep 17, 9:33am 1506458022

They were never here. Only their money doing a bit of travelling.

by Solidname | 27th Sep 17, 9:16am 1506456982

Not exactly true, I've seen multiple boards go up and then be removed after a month or so of inactivity.

by President of P… | 27th Sep 17, 9:56am 1506459405

Were they electoral boards? ...ha de ha
Fair enough chucking in afew no sales though - although obviously that happens in any market. But have you noticed all the sold signs? They do seem to get snapped up fairly quickly.
Any chance of a days to sell by suburb graph frron the interest team?
President of Property

by Ex Expat | 27th Sep 17, 10:19am 1506460773

Get in touch with the local agents and you will be swamped with monthly sales stats. My part of 1071 seems to be solid, 19 listings on Trademe of which 7 are September listings. Prices aren’t moving much based on CV multiples, but If there’s a crash coming it isn’t evident. Same as in any market, properties with the right attributes are selling well and will always do so.

by Solidname | 27th Sep 17, 11:47am 1506466032

You'd think 1071 would be fairly resilient to the vagaries of a crash, more so St Heliers, Kohi and Mission Bay, prices could go down but not to the same extent that they would in the surrounding 'burbs. Selwyn College's revival could help prop up prices as well.

by Ex Expat | 27th Sep 17, 2:18pm 1506475116

Selwyn College appears to be doing well after Ms White was forced out some years back. The fact that they now have to zone it shows that the community would support it when it reflected its natural catchment. Whether it attracts people who pay $1,600,000 plus to live there is a matter for conjecture. We support it because we feel obliged to walk the walk after supporting Ms Whites ouster. The fact that our child thrives there is a real bonus.

by Solidname | 27th Sep 17, 3:00pm 1506477633

Indeed I've been very impressed by the passion of the teachers for the school, much kudos to Principal Ofner who has helped enable the turnaround.

by Ex Expat | 28th Sep 17, 2:30pm 1506562245

Absolute desperation in 1071. Auction brought forward ;) https://rwremuera.co.nz/auckland/kohimarama/35-allum-street-17915645/

by Ex Expat | 28th Sep 17, 2:36pm 1506562618

It will be interesting to see who the buyers are and what they do. You'd have to figure it's a demolition prospect, but will there be two houses in its place or something in keeping with the nature of the street I.e. Single house. I might have to attend the auction to get some first hand rather than anecdotal evidence.

by Cowpat | 28th Sep 17, 2:46pm 1506563189

Ex expat, why do you suggest its desperation ?

by Ex Expat | 28th Sep 17, 3:11pm 1506564693

It isn't. That's why I added the wink emoji. Parts of Allum Street are seeing strong interest with large house renovation and quality new builds. To get the money they need to have views and sun that can't be built out. I think this property will go for very strong money. I'll likely attend the auction if I can get time off work.

by Ex Expat | 28th Sep 17, 3:23pm 1506565412

To me this type of property is why the doom and gloom merchants have less connection with the real world than they think. An agent once told me that people move less than 1.5km when changing houses. If you want this house in this location you have Hobson's choice. You either pay up next Monday or potentially miss out for another 50 years. Market timing is useless when faced with home buying emotion

by Cowpat | 28th Sep 17, 3:30pm 1506565857

So you trust agents, and are willing to take time off work to attend a house auction. Which real world do you live in .What do 'doom and gloom merchants have to do with anything in relation to your real world.'

by Ex Expat | 28th Sep 17, 3:41pm 1506566464

I have no real opinion on agents. I've dealt with good ones and very average ones, just as I have with other vocations. Don't get me started on mechanics. My reason for attending the auction is to see what's going on in my hood, one where commentators here have predicted doom and gloom. If they're right there will no little buying interest now the Chinese have gone. I will see the truth on Monday.

by Averageman | 27th Sep 17, 3:45pm 1506480328

Auckland always resists declining, look at the GFC, it only pegged back a little bit and then turned around after all the PIs fixed long at the lowest rates in history. Those that can hold do. Why take a loss if you can hold on?

Govt choice will be important. Lets face it, if labour/greens come in you get lots of change, and many will ask whats the point without the capital gains of growing prices, and paying tax on what gain there is. Without immigration and overseas money boosting the market there is only one direction available, that supported by domestic incomes = equals slow decline. Will lead to a static, slowly ratcheting down market as loans unwind. Will the banks refuse to remake loans, or will higher interest rates even arrive? It will be similar to holding ones breath underwater watching the oxygen cylinder run out of air.

Expecting employers to pay heaps more will not happen. Easier to relocate business operations elsewhere as is happening.

by gingerninja | 27th Sep 17, 2:33pm 1506475995

Seeing as completely unverified anecdotal evidence is proposed as fact in comments about the housing market, I would like to share my own recent experiences. Myself and several friends in our late 30s are in the market for buying family homes.

But a very bizarre phenomenon has been happening recently. Suddenly, local RE agents are being spectacularly nice. Some even want to let us in on secrets and give us preferential options on houses before they even come on the market. Only today I heard "I have a house coming on soon and the minute I saw it, I thought of you". Aren't they just absolute darlings? So thoughtful!
Yet just 6 months ago they were snide and dismissive. I'd hate to be considered a cynic but anyone would think I was smelling a waft of desperation as these RE agents try to smarm buyers back.

by Groen_mamba | 27th Sep 17, 3:16pm 1506478582

I'll chip in with my experience as well. In the same boat as you, I went to an open home on Saturday. Got a follow up call on Monday from the RE wanting some feedback. I said it was at least $100k overpriced. I spent the next 20 minutes listening to how tough it currently is convincing vendors that prices have come off its peak, and they need to be more realistic. He reckons the silver lining is the fact that only the "good" RE's will remain standing.

by PocketAces | 27th Sep 17, 3:34pm 1506479649

The nose knows

by Averageman | 27th Sep 17, 3:46pm 1506480407

Well....that is their job.

by Ex Expat | 27th Sep 17, 3:02pm 1506477730

I gather you have lived in the area long enough to know who is selling into the seasonal changes?

by gingerninja | 27th Sep 17, 3:17pm 1506478673

Moi? One of my friends has been looking for 3 years, the other 18 months-2 years. And I have been through one full calendar cycle. It has nothing to do with seasonal variations.

by Ex Expat | 27th Sep 17, 3:38pm 1506479902

Three years! Good grief. I hope the Market rewards their patience. I've done my fair share of living in sunless cold Wellington houses with no parking. Moving to Auckland was like being in a lolly shop for the first time.

by gingerninja | 27th Sep 17, 3:55pm 1506480952

Yeah, she's extremely picky. She has a perfectly nice place in Kelburn but is after an upgrade, and nothing as yet, had quite tickled her fancy. She's very specific.
Both my husband and I have lived in Auckland. My husband grew up there. And we would never live in Auckland again. But that has nothing to do with the weather.