More Auckland homes being auctioned by Barfoot & Thompson

Auction activity appears to be picking up in Auckland as we head into summer, with Barfoot & Thompson marketing 183 properties for sale by auction last week, compared with 126 the previous week.

However the sales rate appears to have stayed about the same, with sales achived on 38% of the properties last week compared with 35% the week before.

Barfoot's biggest auction last week was at their Shortland Street auction rooms in the CBD on 1 November, where 43 properties were scheduled for sale, most of them in central Auckland suburbs such as Glendowie and Remuera, and suburbs in west Auckland.

Sales were achieved on 17 of them, giving a sales rate of 40% (see table below).

At the Manukau auction on 31 October, 33 properties were listed for auction and sales achieved on 14, giving a clearance rate of 42% and on the North Shore the sales rate was 36%.

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

Barfoot & Thompson Auction Results: 30 October - 5 November 2017
Date Location Sold* Not sold* Total  % Sold
30 Oct-5 Nov On site 5 8 13 38%
31 October Manukau 14 19 33 42%
31 October Shortland St, CBD. 2 8 10 20%
1 November Mortgagee/High Court 2 0 2 100%
1 November Shortland St, CBD. 17 26 43 40%
1 November  Whangarei 3 3 6 50%
1 November Pukekohe 1 3 4 25%
2 November  North Shore 14 25 39 36%
2 November Shortland St, CBD 7 5 12 42%
3 November Shortland St, CBD. 5 16 21 24%
Total All locations 70 113 183 38%
*Sold includes properties sold under the hammer or by 5pm the day after the auction. Not sold includes those that remained unsold after 5pm the day of the auction, or that were withdrawn from  auction prior to the event or had their auction date postponed.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?

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83 Comments

It's not too surprising that auction activity in Auckland should show signs of increasing post-election - and as summer approaches.

But the gloom and doom merchants here will put a negative spin on things.

See below.......

TTP

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10

Hahahahaha!!!

Better to be based in reality than fantasy...

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11

I see you couldn't wait to spin doctor this article. Making excuses for poor sales performance doesn't add anything.

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19

TTP makes even reading the comments tedious for me now :-( . Honestly, TPP's relentless point making has become so stale that I don't even enjoy trolling him anymore.

I think he may be on the spectrum, and not be able to help himself because he doesn't seem to pick up on social cues or normal codes of etiquette or online convention. There is something about the obsessive way that he has to try and respond first, repeat the same thing OVER AND OVER and then relentlessly reply to individuals that seems a step beyond just invested interest/spruiking to me.

So I personally won't be responding to him anymore. I think to do so, might actually either make him worse or border on cruelty at this point (if he is ASD spectrum).

Hi Gingerninja,

You write, "So I personally won't be responding to him [TTP] anymore."

That's good to know, my "black sheep" friend - because you have an established reputation here for quoting people in error.

TTP

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It's probably time to come clean. TTP is not actually human but an advanced AI Bot developed in the DGZ/ZS R&D department. We thought we could contain this entity but it is now on the loose within the interwebs and beyond our control. Replication seems to have only occurred once so far so fingers crossed. Sorry about that and apologies for any inconvenience caused.

Zachary!!!!!???? It wasn't the US military that caused SKYNET... it was you!!!! hahaha brilliant

This is why coding the 'market analysis' feature prior to the 'spruiking' feature is an absolute must (in case it escapes). Good work on fessing up. Despite a few wise cracks to the contrary, I also never thought ZS and DGZ were actually the same person.

For it to be AI that would indicate there is some intelligence in TTP, im not sure I agree.

Obviousy the logic is broken and needs to be corrected to include factual analysis, & market awareness. I doubt his server has the the ability or motivation to make these corrections.

38% clearance is a crap result! Hasta la vista baby!

TTP makes even reading the comments tedious for me now :-( . Honestly, TPP's relentless point making has become so stale that I don't even enjoy trolling him anymore.

If you don't want to experience trolling, I think you should probably stay away from digital spaces, particularly if the content is based on housing prices during asset bubbles, climate change, and political persuasions.

J.C. I think you've misread me, I enjoy trolling (as a verb), I just don't enjoy trolling TTP. And generally I don't troll massively in these comments anyway I have other places for that ;-) but I do enjoy it when it's done well, and some of the comments here do make me chuckle. I'm just saying that there is nothing fun/interesting/meaningful in engaging with TTP at all, so won't be doing so.

I find interest.co.nz comments (and other places) very interesting from an online behavioural observation perspective (a hobby of mine and something I blog about). How different bits of information are experienced from different perspectives, the various biases etc (not excluding my own). Economic + political butt hurt is amongst the most popcorn worthy.

GingerMinja
Agreed TTP lacks the sophistication of Zach commentary Cheap Chinese TTP hardware overheating circuit board results in
TTP likes to talk down to people with a different opinion
There’s no comedy with TTP a reboot required
Zach is a very special type of spruiker
He could go far on American Greed & WestWorld

just ignore him / her.
These psychopaths thrive on firing people up.
They are not interested in a reasoned, civilised and nuanced debate

I have a sneaky suspicion TTP is actually the reincarnation of one Ted Stanton....

TTP was cloned from Pointmade DNA

Fritz
That was extremely nuanced

Had a certain je ne sais quoi?

"However the sales rate appears to have stayed about the same"

Still haven't grasped the notion of nominal and relative, huh.
You'll get there one day.

Number of listings is rapidly increasing (11,000 Auckland listings on Tm now) so it would be odd if number of auctions weren’t increasing accordingly...

What's also interesting (to me anyway) is that the 2 mortgagee sales equal to 1.1% of properties offered and 2.9% of properties sold.

@nymad

"...marketing 183 properties for sale by auction last week, compared with 126 the previous week."
Number of properties available for sale is higher.
"...with sales achieved on 38% of the properties last week compared with 35% the week before."
Percent sold is higher.

Two weeks ago 44 of 126 sold = 35%
Last week 70 of 183 sold = 38%

"However the sales rate appears to have stayed about the same..." Seems pretty accurate.

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How is being happy about the prospect of falling house prices “doom and gloom” or being “negative”? I thought that was good news for everyone, aside from a few speculators. You seem to be the principal doom and gloom merchant by perpetuating the belief that house will forever remain unaffordable.

I also suspect that Pointmade is also TTP. I know a lot of people say that kind of thing on here. But I don't actually believe it in other cases (ie that Zachary is DBZ, I think they are distinct people who converse very differently but just have certain housing related views in common IMO).

TTP and Pointmade however use almost identical language and sentence structuring, neither of which is similar to anyone else. And they almost always pop up only to comment on each other, and to specifically compliment each other.

But anyway, I don't feel comfortable mocking or sharing comment exchanges with TTP anymore, because I get the sense that he is coming at it from a very different place to me.

"I also suspect that Pointmade is also TTP."

Absolute rubbish!

Gingerninja gets it wrong yet again.

TTP

No I think PointMad & TTP are so similar one could be a clone of the other

I see tothepoint has voted for himself using his other names Zachary Smith and Double GZ ! It's one thing to spin , but it's another thing to fraudulently manipulate the truth through fake votes !!! Fake News.

Hahaha. Seriously there is only one Zachary surely!!? He has a very distinct style. I don't always agree with him, but he is often provoking and never dull. If DBZ and TTP/pointmade and Zachary were all the same person then they are very clever and using very different sentence structures and language patterns. Nah. I would happily share a bottle of wine with Zachary and no doubt have a thoroughly interesting, if not heated chat.... DBZ seems very focused on his business, fair do's, I think making a living from property is morally/ethically fraught atm so not my bag, but each to their own, he is just very different from DBZ, no greek mythology references or global politics like Zachary. TTP/pointmade though.... different altogether.. .
For them all to be one person, it would necessitate some kind of evil genius, deranged keyboard warrior person, and i'm not picking up that vibe.

DBZ = dragon ball Z??? :D

GingerMinja
Yes I have to agree about Zach
Zach is the nicer individual of the 3
DubleD lashes out nastily occasionally which I have been wounded by
TTP is from Palmerston Nth & is a wannabe Zach but never can come close to Zachs zany style
So it’s Zach 1 and DubleD & TTP joint last

Or split personality !

@gingerninja I'm glad you think I am very focused making a living from property coz that way you'll never find out what I really do. If you know who I work for and where I work you will be shocked!

DGZ are you not a property investor and make money from that?

No that's just a hobby. I have a proper job that is not property / RE related.

Do you own your own home in DGZ then? Or you aspire to live in that area maybe? Just always assumed by your enthusiasm for those area values that you had some skin in the game.

That aspiration has been fulfilled long ago. I'm breathing DGZ air right now LOL

DubleD works with computer software I thought
Zach works with computer hardware
Both are your typical middle class salaried workers who’ve invested heavily in Auckland RE or that appears to be their message.
DubleD neglected a few other good streets in Remmers like Darwin Lane & Lucerne Rd & of course Victoria Ave although it must be busier than when I was there Burwood Crescent is outstanding I spent a lot of time
there at a lady who owned The Safari Room I’m glad DubleD reminded me Burwoord because I confused it with Birdwood in Parnell where I also have memories of.
I always preferred Newmarket to downtown Auckland as a kid with the plastic shop there a treat
Such memories of Auckland. St Heliers I’d say had the nicest people who were always friendly
Great memories
Then there’s West Auckland and the orchards and Corbans vineyards
Gee Auckland was less populated back then and better for it in my opinion

Inland Revenue

Close ^^

SFO

TTP, you crack me up, you're funny! Seriously now, NZ is a bobbing cork in sea of other people's money. The tide is going out NOW, grab whatever clothes you can before it's too late!!

hahaha.. TTP is so relentless that it will try to convince the tide to hold on while he tries to salvage the Auckland housing market

More to the point
Maybe Disneyland

A significant proportion of Barfoots overall sales remain by way of auction. Zachary's updates on auction data , even though it relates to rateable values , and statistically are sometimes individually small in number, are important in assessing the direction/confidence of this market.

Thanks for that Cowpat!

12 month average price all Barfoot sales till November 2017 $931000, 2016 $882258, 2015 $796611. Last six months average price $ 920989, prior 6 months $935000. Down but not out. Unless there is capitulation in the auction rooms the Auckland housing market is marking time.

Cow pat
With due respect whatever way you choose to use statistics the Auckland housing market sentiment has changed and sentiment is the forerunner not statistics which merely record past events
Get used to a changed paradigm whatever way you wish to spin it

Last week I said I was going to an auction in Greenhithe, it sold under auction for $3.12M, about what I thought it would go for. Buyers were not Chinese and the second bidder was Russian. Not all doom and gloom despite the naysayers here. Location, location, location.

Oh yeah the worlds flocking to get into Greenhithe !

Good indicator for me was the block. Northcote close to Auckland (Better travel then Greenhithe), decent house in good area, above average and went around 1.2 mill.

In the past this would have went for more.

Northcote is a China Town with 80% of the small businesses owned by Chinese owners, some operating from China. It is not a slum but good area it is not. Try postcode 1071 or 1050 LOL

As a fellow Remuera resident, I'm interested in what you reckon the best (not necessarily most expensive) street in Remuera is?

@Fritz I can’t decide among Seaview Rd, Martin Ave, Arney Rd, Victoria Ave and Burwood Cres. Probably Burwood ^^

DGZ I will definitely not take your recommendation. I have lived all over that area in the shore and loved the commute into town. I have lived in Remuera on Peach parade many moons ago and Omahu road, so I know your neck of the woods as well.

I have lived in Kohi on Sprott Road and I know 1071 as well, I love Kohi and I love that area as Im into my beachy stuff. Have a few friends in St Heliers as well so its great for me. But I am sick of traffic and Auckland so will move to country when I get back, but near beach.

I have no worries about China Town in Northcote. Do you ever not talk up your area, its a weird obsession. I like where Im going to move to but I will not talk it up as its a personal choice. The golf course is within easy walking distance and the beach is one street away. Unless I get my business humming and then I will buy right on the beach. Then I can buy a sealegs and I can go kitesurfing and fishing right off my lawn.

https://www.sealegs.com/

But back to your obsession, if I was living in Auckland I would live Deveonport down the North Shore coast line. Devonport feels like a little village, even though its really close to Auckland. I like Takapuna and its bars. Browns bay, Mairangi Bay, Torbay feels like a rural/urban slice of NZ with a cool bars and cafes plus great beach views. Nice and quiet.

Then you have places like Whangaporoa, Red beach nice places close to Auckland. Remuera is not for me, to close to town and all the people, I have had enough of cities. I crave the quiet life near a beach, so Im heading down south of auckland, where I can see farm land and beaches.

Always normal to have auctions heading into Xmas. Attempts to have unconditional offer for sellers, and generate commission for agents, all before Xmas. Remember prices up or down, agents mostly care that your house actually sells rather than what price it gets. Suspect there will be a lot of conditioning sellers price expectations one way only. Recent auctions low clearance rates tell one story. Results, as always, are everything.

Usual pump and boom agents will now put a positive spin on things, see below....

Only if you can buy investment properties in Auckland and pay for them in bitcoins, kind of you CAN have your cake and EAT it too scenario.

Only if you can buy investment properties in Auckland and pay for them in bitcoins, kind of you CAN have your cake and EAT it too scenario.

And also have the houses fully hedged against NZD. Mind you, for most NZers, currency value is not really a concern, except for the occasional trip to the Gold Coast, Thailand, Disneyland, or following the ABs in the UK.

Cost $$ to hedge
There’s better ways like diversification

Hello gingerninja
Top of the morning to you. You write "I also suspect that Pointmade is also TTP", nothing could be further from the truth, although alas I would be honoured to have such a gifted intellect as TTP. On occasion we all quote people in error, I think TTP will give you another chance.
MTP

I always assumed you're TTP's mum.

You always have his/her back.

PointMade was cloned remember

deleted

Hi Gingerninja,

You write near the beginning of this thread that you "won't be responding to [TTP] anymore".

Notably, however, as the thread progresses you go on adding post after post about me and, ironically, accuse me of being "obsessive" in at least two of them.......

Gingerninja: it's you that's obsessive.

Further, while I am not a person who suffers from autism, if I did so I would find your comments/stereotyping on autism/ASD (above) to be highly offensive. Your tactless remarks are degrading and disrespectful to a group of people who face very challenging life circumstances.

This is 2017: show some maturity.

TTP

What's trolling?is it a different word for bullying?

You write "show some maturity" yet you continually start any of these types of threads with the same provocative statements - kettle pot black.

I agree with TTP, one of the wisest posters here. People need to show some maturity or they face damaging their online reputation on this site. TTP is correct, this is 2017.
MTP

We can all agree it is 2017 I hope! Personally I like your parody of TTP. I wish we had a DGZ parody as well...

Great laughs here tonight You’ve started something GingerMinja

I should have known that GingerNinja would get converted to adult content.

..

There used to be a parody of me called ZacharySmith69 which was pretty awesome.

Shame they left. Maybe we can entice them out of retirement.

Brings new connotations to the term "self-licking ice cream cone".

Just for the record and to no one in particular. I am not stereotyping about ASD. You can check the criteria here;
https://www.cdc.gov/ncbddd/autism/hcp-dsm.html

And I would never want to suggest that someone with ASD is less than anyone else. Only that to say that for someone with ASD, when they would have difficulty engaging with the conversation on several levels, might be cruel. And that I would desist from doing so.

Hi Gingerninja,

I refer you to the United Nations Convention on the Rights of Persons with Disabilities (UNCRPD), which was ratified by NZ in 2008.

In future, I trust that you will desist from targeting any individual with the type of commentary/accusations you made earlier in this thread.

I would like to close discussion on the matter, with that understanding. Thank you.

GingerMinja
Gee that may also apply to DubleD !
Is it a notifiable disease to the Dept of Health ?

I am sincerely sorry it’s GingerNinja my mistake a freud slip

Hahaha. No it's fine, it's an irresistible rhyme ;-)

100% for Mortgagee sales.

TTP could be right. Always buy property at the right price.

A quick glance at the prices achieved on the weekend and Friday appeared to indicate less fabulous results. So I checked out eleven of the Auckland properties. We had sales of 12.638M with an RV of 9.200M giving a price over RV of 37.36%. Of note is that only one property was Central Auckland with most being North Shore and a couple out West.

Remember these checks are simply to "sniff the air" for current market sentiment. The sentiment of the people willing to buy right here and now and perhaps the sentiment of the sellers too.

All the properties sold got good prices although I sense we are seeing some significant drops in price for basic three bedroom do-ups out West. Definitely some affordable places becoming available out there. Suitable accommodation for new, hardworking, immigrants and FHBs. I started out there.
This one got 580K. 600m2 section in a no exit street. Needs a bit of work. A young couple, both working, could easily buy this:

https://www.barfoot.co.nz/602999

Something that could be lived in right now with just a bit of work. Really just replace the bathroom vanity. Lots of things can be done right away, like a new paint job, paint the garage, remove fences, make garden nice.

So 183 properties marketed and 1 is (justabout) suitable for a FHB if they both work... would be nice if we had a measure of how many affordable homes are being taken to auction and getting sold. There is clearly more that one market in Auckland and we don't get the story of the different components and participants.

Just as the "good properties" led they way up in price of ALL properties, so the the "poor properties" will lead the way down for ALL properties

More like 8 Mile. Loose yourself in the moment. Even at this price the 1st home buyers without benefactors still need to come up with 116 k for the 20% down. Unfortunately the large majority of those people would not be interested in living there. Whats the point. You will be surrounded in a neighborhood by a vast majority of houses which are rented and where the landlords and their disenfranchised tenants take equally good care of their properties. What is needed is a shift in policy to truly encourage and actively enable home ownership
for those that can afford it. That would see entire neighborhoods improve. Government underwrite for long term low interest rate loans for owner occupiers. The kinds of loans that are commonly available from retails banks in UK and USA right now. The previous owner purchased this house in 1996 for 126 k. In recent years they have probably been pulling in 40 -50 k per year in rent and capital gains combined. But they can see the writing on the wall.

Good god. Whoever paid 580k for that needs their head checked.