Barfoot & Thompson sold a third of the residential properties it marketed for auction last week, although those figures exclude the results of the Shortland Street auction on October 23, which have not been released.
Excluding the October 23 auction, Barfoot marketed 120 residential properties for sale by auction last week and achieved sales on 39 of them, giving a sales clearance rate of 33%.
Of the major auctions where at least 10 properties were offered, the sales rates ranged from 12% at the Shortland St auction on October 26, where all of the properties offered were from west Auckland suburbs such as Titirangi, Glen Eden, Massey and Henderson, to 35% at the Shortland St auction on October 24 where the properties were from central and central-fringe suburbs such as Meadowbank, Glendowie, Sandringham, Epsom and Three Kings.
The Kerikeri auction was particularly successful last week with sales achieved on five of the six properties offered.
Just over a quarter of the properties at the big Manukau auction were sold, and just on a third at the North Shore auction.
Last week was a short week after the Labour Weekend break, so the number of properties Barfoot took to auction was half of what it was the previous week.
However the sales clearance rate was unchanged at a third, which suggests the overseas buyer restrictions on residential property that took effect on October 22 (Labour Day), probably aren't having much of an impact on the market at this stage.
Of the 28 sales where selling prices could be matched up with rating valuations, 15 sold for more than their rating valuation and 13 sold for less, suggesting prices are also reasonably steady.
Details of the individual properties and the prices achieved for most of those that were sold are available on our Residential Auction Results page.
| Date | Venue | Sold | Not Sold | Total | % Sold |
| 22-28 October | On site | 4 | 2 | 6 | 67% |
| 23 October | Manukau | 8 | 22 | 30 | 27% |
| 23 October | Shortland St | - Not Available - | |||
| 24 October | Shortland St | 7 | 13 | 20 | 35% |
| 24 October | Warkworth | 1 | 0 | 1 | 100% |
| 24 October | Pukekohe | 2 | 6 | 8 | 25% |
| 25 October | North Shore | 7 | 15 | 22 | 32% |
| 25 October | Kerikeri | 5 | 1 | 6 | 83% |
| 25 October | Shortland St | 3 | 7 | 10 | 30% |
| 26 October | Shortland St | 2 | 15 | 17 | 12% |
| Total | All Venues | 39 | 81 | 120 | 33% |
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.