Auction numbers were low but the sales rate almost hit the 50% mark at Harcourts' latest auctions

The auction sales rate nudged 50% at the country's largest real estate agency's latest weekly auctions, although the number of homes being sold by auction remains low.

Harcourts marketed 77 residential properties throughout the country for sale by auction and achieved sales on 37 of them, giving a sales clearance rate of 48%.

Most of the auctioned properties were in Auckland and Christchurch, with 26 properties marketed for sale by auction in Auckland and sales achieved on 14 of them (54%).

In Christchurch sales were achieved on 16 (47%) of the 34 auctioned properties.

Prices at the Auckland auctions ranged from $680,000 for a four bedroom house at Browns Bay, to $2,125,000 for a five bedroom house at Takapuna.

In Christchurch prices ranged from  $232,000 for a redevelopment property sold "as is" in St Albans, to $2,075,000 for a renovated, waterfront house at Sumner.

Photos and prices of the individual properties are available on the Residential Auction Results page (except the results of Waikato auctions, which we were unable to publish due to a technical hitch).

You can receive all of our property articles automatically by subscribing to our free email Property Newsletter. This will deliver all of our property-related articles, including auction results and interest rate updates, directly to your in-box 3-5 times a week. We don't share your details with third parties and you can unsubscribe at any time. To subscribe just click on this link, scroll down to "Property email newsletter" and enter your email address.

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.

15 Comments

So, no-one is buying or selling houses at the moment still, half of bugger all is bugger all..

Well over 5000 homes being sold last month is "no-one is buying"?

Humm.. Zac I think you're getting your sales figure mixed up with the increased number of listings for Auckland, which have now shot up to 9924 on TradeMe.

CJ099, I know it's an astonishing figure, right? Yet here is the link to the story on this very website, just the other day:

A total of 5428 residential properties were sold in September, down 26.2% compared to September last year.

How do I break this gently to you Zac??? Did you not look at the graph?? The one that says Auckland September sales volume figures and Sept for Auckland = 1591

Not 5428 which is for the whole of NZ. I know how you feel being a AKL home owner, we completely forget about the rest of NZ and think that Auckland is the center of the universe. There are 16 other regions you know. :)

Oh and by the way; In Auckland auction numbers were down -57%

Take a look at the graph: https://www.interest.co.nz/property/90299/reinzs-national-median-selling...

Where was I referring to just Auckland? Where??? Literally shaking my head right now. Plenty of people are buying up and down the country. Close to 1,600 houses in Auckland is a fair number also and hardly "no-one". Try counting up to 1,600. Sad!

Oh come on Zachary you only think of Auckland (More accurately central Auckland)! Why else would yo have mentioned it. :P

Auckland auction numbers were down -57% Now that's a significant number and the punch line. ;)

Humm... Or should the punch line be; the rest of NZ is selling just not Auckland that much.

I don't just think of Auckland!

LOL Zachary/DGZ. Oh you are so good for a giggle! :)

may be a good number will be selling to back family trust or company structure

Wait it out. The lower the value the better when transferring to a Family Trust.

Off the radar the prices and people are stretched with massive mortgage debt wait for the defaults to come.

This house of cards is coming down! Its the big one boys, 50% down in 3 years, decades to recover!

Sorry Laminar - but no such luck for you.

TTP

Don’t forget you can get good sales as the market goes down and that what’s happening . As people drop there prices they find a buyers. It’s the prices you need to watch. Listing will probably go threw the roof in time, sales could still be fear but over time prices, listings and sales and of course auctions will all die off because of the lack of demand . I’m guessing a year from after the election cools off of bigger drops then some years of slow decline to flat. Personally the sooner we get to the bottom the better, I’d start buying at the bottom and I’d guess many others would