38% sold at Bayleys' latest auctions

Property

Prices started at $470,000 - latest auction results from Bayleys in Auckland and BoP and Eves in Tauranga

18th Jun 18, 1:57pm by Greg Ninness

The residential property market is now firmly in winter mode, with Bayleys Real Estate offering just 21 properties at their upper North Island auctions last week and achieving sales on eight of them, giving an overall sales clearance rate of 38%.

At the Auckland auctions prices ranged from $640,000 for a two bedroom home unit in Bucklands Beach, to $1.52 million for a two bedroom penthouse apartment with sweeping views on the Freemans Bay ridge.

At the Rotorua auction only two residential properties were offered, with a four bedroom house at Owhata selling for $680,000.

At the same auction two retail premises on a single corner site fetched $340,000 (full details are available on our Commercial Property Sales page).

At Bayleys' Tauranga auction three properties were offered, with a spacious four bedroom house at Oropi selling for $1.325 million.

Also in Tauranga, Eves Real Estate auctioned 16 properties last week and achieved sales on five of them, with prices starting at $470,000 for a three bedroom house at Gate Pa, while the top price was $1.56 million for a two bedroom house on a large section at Mt Maunganui.

Details of individual properties offered and the prices achieved on those that sold are available on our Residential Auction Results page.

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57 Comments

by Double-GZ | 18th Jun 18, 3:02pm 1529290943

So you are going to ignore the sale of the Arney Cres property with a CV of $11,000,000 a couple of days ago?
https://www.bayleys.co.nz/1751545

by Pragmatist | 18th Jun 18, 3:53pm 1529293992

Why are you bleating about a non-auction sale on a page about auction results? Are you that desperate to be noticed?

by Double-GZ | 18th Jun 18, 4:02pm 1529294534

For goodness sake Prag#$% it is a significant sale so the public deserve to know what's going on.

by Didge | 18th Jun 18, 4:12pm 1529295139

For goodness sake double-guzzle. As if it has any relevance to the bulk of New Zealanders.

by Pragmatist | 18th Jun 18, 4:18pm 1529295484

Precisely, 99.5% of New Zealanders couldn't give a flying fig what some bwanker paid for an Arney cres mansion. Only DGZ gets excited about it.

by Bobster | 18th Jun 18, 5:00pm 1529298037

DGZ, I’m with you, don’t listen to them, I’m not ashamed, they don’t understand people like us.....

#sadpropertypornaddict

by Nzdan | 18th Jun 18, 6:06pm 1529302009

I still believe that DGZ is a recently divorced middle aged dude with a mullet, driving around the grammar zones people watching in his clapped out 80’s hondamatic. He’ll own one of those properties one day, his boss will recognise his hard work by handing over the keys to the business.

by Double-GZ | 18th Jun 18, 6:24pm 1529303089

What's wrong with you Nzdan? It's not about me. I know you're disappointed that houses in DGZ are still selling at premium level. I'm just reporting on what I know, what i see in where I live. It's never about my personal life. Stay cool dude.

by gingerninja | 18th Jun 18, 6:32pm 1529303567

You just ignore them DGZ, don't let them shame you, stand tall and proud for double grammar property passion, let your cup spilleth over, let your joy issue forth, let your champagne bubble over... (running out of metaphors now sorry)

#doublegrammartumescence

by tothepoint - d… | 18th Jun 18, 7:16pm 1529306213

Hi Gingerninja,

It's good watching you get inebriated with the exuberance of your own verbosity. (-;

And I agree with you, DGZ should ignore the lesser-lights who hang around here. (In any case, he's more than a match for them.)

TTP

by Bobster | 18th Jun 18, 8:23pm 1529310186

Indeed, what good is a tumescent exuberance like DGZ’s unless you can spray it around?! He certainly knows what people pay money for...

Keep it up DGZ!!

#sadpropertypornaddict

by Scarletmanuka | 18th Jun 18, 7:00pm 1529305244

DGZ - go comment on the NBR website instead. You’ll fit right in with the commentators that haunt that right wing echo chamber!

by tothepoint - d… | 18th Jun 18, 8:11pm 1529309470

Hi DGZ,

Nzdan is not just "disappointed" that houses are still fetching premium prices in grammar zone........ He's mortified and reeling in agony/embarrassment.

DGZ - keep up with your worthy reporting of notable house sales in Auckland. It adds much objectivity to this site and is greatly appreciated by astute readers.

TTP

by Nzdan | 18th Jun 18, 8:40pm 1529311259

Absolutely mortified. Are you nearly finished tongue punching DGZ? He’s going out tonight to celebrate, going Malcolm Rewa in Remuera.

by Bobster | 18th Jun 18, 8:57pm 1529312274

How tittilating...,I’m putting a fake real estate agent sign at the top of my drive to lure him in..,,

by Nzdan | 18th Jun 18, 9:02pm 1529312540

Make sure it's in RGB 198,87,97. Tumescent Pink.

by Double-GZ | 18th Jun 18, 9:06pm 1529312798

TTP thanks for confirming that he is mortified. I thought so too! That would explain why Nzdan came out swinging with his personal attack on me ^^LOLdgz^^

by Rex Pat | 18th Jun 18, 6:29pm 1529303341

Wasn’t that same comment posted a few weeks ago?

by Nzdan | 18th Jun 18, 7:02pm 1529305321

Hence I started with “I still believe”. And it was only about a week ago that I first made the comment.

by Houses Overpriced | 18th Jun 18, 7:36pm 1529307369

Are you implying that dgz gets a different kind of pleasure when properties sell above a certain price. . Lolz. ..

by Taubin | 18th Jun 18, 4:13pm 1529295213

I'm not sure what that has to do with auction results, especially since it wasn't an auction.

by theglc | 18th Jun 18, 3:33pm 1529292810

TTP where are you???

As I predicted the other day clearances would be back in the 20s or 30s this week!!!

Seems like your early spring was short lived!!!!

Boohoo for you!!

Somebody get the tissues......

by Retired-Poppy | 18th Jun 18, 4:19pm 1529295592

TTP's early spring delivered Rotorua a median $385,000, down 9.4 per cent on April's median price of $425,000! I cracked up when I read a REA take on it "April was an anomaly, we're up from last May and the one before that so it's all trending in the right direction"

Now that it's topping out, the window dressers are getting busy with words.

by Merrydaze | 18th Jun 18, 6:28pm 1529303285

Some people can be a little bit selective. From the same news source?

https://www.oneroof.co.nz/news/tauranga-house-prices-reach-record-media…

by tothepoint - d… | 18th Jun 18, 7:03pm 1529305394

The auction clearance rates reported by Greg over the 2-3 weeks have been significantly higher than through April and May.

This observation has whipped the DGM into a frenzy - especially since the DGM were forecasting a crash to have occurred well by now. Oh dear.......

The Auckland housing market has demonstrated a level of fortitude that the DGM never dared contemplate.......

And, notably, the status quo comes after price increases comfortably above 90% during 2006-2016.

Personally, I anticipate some downward movement in prices of poorer located (and less desirable) properties over the next few months - but in preferred localities prices will likely fluctuate within a quite narrow band.

There will continue to be some nice pickings for first home buyers who, by all accounts, have become more active in the market over recent months - and for good reason.

TTP

by Fritz | 18th Jun 18, 7:14pm 1529306047

'There will continue to be some nice pickings for first home buyers'

The problem is, the pool of FHBs who can afford Auckland prices is rather small.

by tothepoint - d… | 18th Jun 18, 7:58pm 1529308694

Hi Fritz,

You'd be surprised how often they come up with the deposit......

There are plenty of smart and resourceful young people in Auckland.

And, believe me, it's easier to get into a house when you're young than after you reach middle-age.

TTP

by saving_for_aus… | 19th Jun 18, 12:24pm 1529367841

There are plenty of smart and resourceful young people in Auckland.

Most of whom end up purchasing one way tickets to places with cheaper housing and higher paying jobs.

by Retired-Poppy | 19th Jun 18, 8:17am 1529353072

TTP, The trouble is, this is still a suckers market and you're in denial there's a DGM living inside of you. Its high time you finally acknowledged 2017 commentator recommendations for FHB's to wait, were factually correct. Prices are certainly cheaper now but it's still very much early days.

by rastus1 | 19th Jun 18, 8:43am 1529354598

..I hope you wear a bib when you write this stuff....

by Badlad | 18th Jun 18, 4:39pm 1529296778

Good to be back on terra firma, but my back ache is terrible. A month away I see I have not missed too much. Interesting to note housing issues in the northern hemisphere are very similar here. I noted with interest that in mainstreet USA they are back to a standard of mortgage laxity that made me head for the toilet. You gotta love them banks. Pretty clear over there interest rates are hiking up the hill and low income earners will struggle. Affordability at the lower end of the spectrum is nothing new and health care and inability to save seem the common complaint. To be fair if you changed the accents it was like I’d never left here.

by Badlad | 18th Jun 18, 4:44pm 1529297080

When oh when will Mr Musk get that hyper loop built between Auckland and the rest of the world. Either that or get the airlines to hand out tramadol candies.

by Badlad | 18th Jun 18, 5:17pm 1529299027

Saw somebody post about the incipient trade war between US and China - imagine that may well have implications for us. It'll be interesting to see how sensitive our situation will be knowing that our trading future and investment climate is now both directly and indirectly tied to the public and corporate stewardship of the middle kingdom. I suspect we won't be seeking to get too out of step and accordingly, as I already understand it, we will continue to defer to rather piecemeal and largely ineffective measures to counter the apparent manifest ills of new New Zealand.

by Badlad | 18th Jun 18, 5:30pm 1529299858

Depending on your view it can be quite a disconcerting exercise trawling through the last 30 odd years of NZ history in an effort to establish whether we can, without any hint of sarcasm, still hold claim to the investitures of sovereign nationhood. But then who really can?

by Double-GZ | 18th Jun 18, 8:34pm 1529310873

4 bidders fought it out at the on-site auction yesterday at 96A Upland Rd DGZ
2017 CV $1,825,000
Sold $2,245,000 (23% above CV)
https://rwremuera.co.nz/auckland/remuera/96a-upland-road-19042265/

by Houses Overpriced | 18th Jun 18, 8:02pm 1529308938

Were you there for the auction

by Double-GZ | 18th Jun 18, 8:03pm 1529308996

No I just got an email from the RE Agent with the sold price. I am in Shanghai ^^LOLdgz^^

by Houses Overpriced | 18th Jun 18, 8:09pm 1529309342

Must be a first when an agent also states the number of bidders...

by Double-GZ | 18th Jun 18, 8:33pm 1529310831

Not in emails. They always let us know the number of bidders especially in DGZ :-)

by fat pat | 19th Jun 18, 1:40am 1529329205

Sold for 890K in 2004. About a 1.3 million of capital gain. More than most people accumulate in net wealth in their entire lifetimes. Could have been purchased back then by a youngish doctor lawyer scientist or engineer but not now. Just under 7% y/y capital gain for 14 years. Same story for vast swathes of Auckland. Nothing fu*$ed up about all that! Wonder why educated young people aren’t having kids anymore? Don’t worry about it, just keep celebrating rising property prices.

by Houses Overpriced | 19th Jun 18, 6:22am 1529346163

You and I get that Fat Pat, others don't. Either due to ignorance or are just self centered

by Double-GZ | 19th Jun 18, 8:05am 1529352325

I'm glad that you've managed to draw some sense out of this. Hence I continue to report on what's happening, what I know, what I see, where I live; despite being abused and attacked personally by some idiots on this website. The numbers mean different things for different people. The public deserve to know the truth that's all what I am saying.

by Retired-Poppy | 19th Jun 18, 8:34am 1529354086

DGZ, you've got major anger issues if you think the public deserve your reports.

by Double-GZ | 19th Jun 18, 8:40am 1529354401

Yeah whatever RP. Why should we listen to you when you're the one who singles out Indian Uber drivers as "successful" investors. Again, race and occupation have nothing to do with it.

by Retired-Poppy | 19th Jun 18, 9:01am 1529355687

LOLdgz, again trying to ignite a race row. If my taxi driver happens to own two negative geared rentals, takes several return trips to his homeland while being in debt up to his eyeballs, also happens to be of Indian origin then explain to readers why it's you that keeps regurgitating this as an issue? Its you that seems to have a problem with it.

Like you, my taxi driver happens to financially short sighted. In his case, he cannot see a threat to his livelihood standing two feet in front of him. In his case, its Uber AND ring fencing.

by Te Kooti | 19th Jun 18, 9:04am 1529355872

I would much rather find out what is actually going on (the facts) than the monotone of a few bitter individuals, misery loves company.

by Nzdan | 19th Jun 18, 8:46am 1529354815

I’m not doubting the facts you’re presenting, it’s the way you’re conducting yourself on here like an autistic screecher. Certainly not the demeanour one would expect from someone who truly owns any property in a grammar zone, unless you have wealthy inbred parents that gave you your property and mental capacity/birth defect.

by Retired-Poppy | 19th Jun 18, 9:03am 1529355787

Well said, DGZ checks the daily spot price of his two negative geared rentals and sticks it to his fridge. Typical "would be if could be"

by Bobster | 19th Jun 18, 9:17am 1529356621

Ha ha, obsessive compulsive for sure, and kinda weird behaviour

Also add ex expat to the OC list, he apparently gets an email every month telling him what his home is worth? Weird...

by Ex Expat | 19th Jun 18, 9:24am 1529357050

It's a service homes.co.nz offer if you 'claim' your property. Core logic are supplying even more regular data to home loan providers like ANZ. Like DGZ, I find it helpful to have all of the info out there to counteract the misinformation pedalled by the DGM. What I'd really like to see is someone post their actual selling/buying experience rather than the peanut gallery putting a slant on what others are doing.

by Bobster | 19th Jun 18, 9:31am 1529357477

Ok, but it stil seems weird to me and slightly OC.....sorry

by Ex Expat | 19th Jun 18, 12:38pm 1529368697

No need to be sorry. Attention to detail, persistence and financial conservatism led me to my current position. I see each as a positive.

by Double-GZ | 19th Jun 18, 9:06am 1529355969

That's your opinion but it still doesn't give you the right to attack and abuse others. IT IS NOT OK. Stop online bullying now.

by Retired-Poppy | 19th Jun 18, 9:45am 1529358318

DGZ, in all seriousness, you've now accused me of racism. If I now searched the archives, would I uncover a racist post made by my accuser with reference to buyers based in China? yes/no

by Nzdan | 19th Jun 18, 9:16am 1529356566

Of course it's my opinion, I said it. Just like your comment that I am writing this reply to is your opinion.

by Double-GZ | 19th Jun 18, 9:29am 1529357391

Why do you feel the need to dig into my personal information and if I am a divorced middle-aged dude with a mullet? This is not ok.

by Nzdan | 19th Jun 18, 10:21am 1529360507

For light humour. Looks like I struck a nerve.