Latest auction results from Bayleys in Auckland, Hamilton, Tauranga and Marlborough and Eves in Tauranga

This two bedroom house at Devonport sold for $826,500.

Bayleys Real Estate sold sold more than a third overall at their latest auctions in Auckland, Hamilton, Tauranga and Marlborough.

The highest success rate was at the Marlborough auction where three quarters of the properties were sold, leaving just one to be sold by negotiation.

At the Auckland auctions, a dozen residential  properties were offered and sales achieved on six of them giving a sales clearance rate of 50%.

Prices ranged from $460,000 for a one bedroom apartment in the Connaught building in the CBD to $2.4 million for a two bedroom garden apartment in Parnell.

In Hamilton just one of the seven properties offered was sold, leaving the rest to be sold by negotiation, and at the Tauranga auction two of the 11 properties offered were sold.

Also in Tauranga, Eves Real Estate auctioned 21 properties last week and achieved sales on exactly a third, with the remaining two thirds heading for the negotiating table.

Prices ranged from $480,000 for a two bedroom brick and tile unit to $1 million for a three bedroom waterfront apartment in Mt Maunganui.

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

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.

19 Comments

Greg's report this morning is further evidence of higher auction clearance rates.

A 58% clearance rate for Auckland suggests the market remains active, with a reasonable degree of buyer confidence - especially given mid-winter.

Congratulations to all buyers and sellers!

TTP

up
22

A 58% clearance rate for Auckland suggests the market remains soft, with a low degrees of buyer confidence - especially given declining prices.

Congratulations to all sellers for getting out while the getting is good.

-P

up
14

Hi tothepoint,

So proud of you, first comment and such an original. The glass is definitely half full.

MTP

Tau-wrong-en auction clearance rate is pretty abysmal. Does that mean that the Orclanders are running out of spare cash, petrol hikes have only been going a week....or is it becuase the banks are calming down on how much they'll lend to people who already have one very big mortgage already?

If I were moving to Tau-wrong-en, I'd definitely want to have the previous home sold first... Nothing worse than getting left with two houses that are declining in value together!

Vendors who are ready to meet market demand, if they want to really sell are smart as for some years it will only be down than up unless some vendors are only testing the market and not genuine sellers.

Is there an auction result missing from the page? I only count 6 sold and 6 not sold, giving us a 50% failure rate instead of a 42% failure rate.

Ooops, yes, one of the properties that sold was a commercil property and is on our Commercial Sales page. Thanks for spotting :)

A 50% clearance rate is nothing to sneeze about - given the market last peaked around Oct/Nov 2016.

TTP

up
10

"Things aren't going badly, considering they're going badly"

Considering the huge run up in prices to Oct/Nov 2016, double digit declines should be expected with no sneezing.

TTP

Could be desperate foreigners getting in before the door closes?

Are condo units part of the sold percentages?

Auckland's central suburbs identified as the fastest rising in terms of price increases - NZ Herald
https://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=120...

I thought markets were going backwards. Hence my personal interest in central dgz surburbs. I can see this trend continuing as the traffic gets worse.

I have not been commenting today as I'd like to give the DGMs a breathing space, instead of me constantly breathing down their throat...wouldn't be too comfortable I don't think.

My guess is this is the result of very small number of sales, i.e. they've looked at the data too finely so there's huge variance. I suspect if they had also published the top 10 suburbs with prices dropping the fastest there would have been some similarly surprising numbers.

Hi Chessmaster,

I expect you're correct.

There are many Aucklanders who would like to live in the inner-city suburbs. Convenience counts for a lot - and in Auckland that often boils down to avoiding the traffic woes.

Much the same logic applies to Wellington too.

TTP

I grew up central city in DGZ actually and my parents still live in the same family home. You can not escape the traffic no matter where you are in AKL. It takes 4 light changes to get through any central intersection even in the weekends dogs breakfast of a city.

It takes 4 light changes to get through any central intersection.

From the DGZ I go through eleven sets of lights to get to work in the central city and it takes me 20-25 minutes at around 8:00am. Only one of those sets would I have to regularly wait for 4 changes. Another 2 I sometimes wait for 2 sets.
Bear in mind that this is peak traffic time.

Good for you Zac but the fact that you even get in your car to drive to Work in the city illustrates my point.