Barfoot & Thompson achieved an overall sales rate of 29% at the agency's residential auctions last week, but there were large variations between the results at different venues.
At the agency's Manukau auction where most of the properties offered were from the southern and eastern suburbs, the sales rate was 44%, while a 43% sales rate was achieved for properties auctioned on-site.
At the big North Shore auction just a tad under a third of properties were sold with a sales rate of 32%, but sales rates tended to be lower at the Shortland Street auctions in the CBD, where most of the properties offered tended to be from Auckland's central and western suburbs.
At the Shortland St auction on February 21, where there was a mix of properties offered from suburbs such as Hillsborough, Remuera, Newmarket, St Heliers, Ranui, Epsom, and Kumeu, only two of the 12 properties were sold, giving a clearance rate of 17%, and the same result was achieved when another 12 properties from west Auckland were offered the following day.
Prices ranged from $360,000 for a two bedroom unit in Takanini that was a mortgagee sale, to $2.5 million for a four bedroom house with an attached two bedroom unit in Epsom.
The individual results and these and other auctions are available on our Residential Auction Results page.
| Date | Venue | Sold | Not sold | Total | % Sold |
| 18-24 February | On-site | 3 | 4 | 7 | 43% |
| 19 February | Manukau | 11 | 14 | 25 | 44% |
| 19 February | Shortland St, CBD. | 2 | 6 | 8 | 25% |
| 20 February | Mortgagee/Court | 1 | 2 | 3 | 33% |
| 20 February | Shortland St, CBD. | 5 | 25 | 30 | 17% |
| 20 February | Whangarei | 2 | 2 | 4 | 50% |
| 20 February | Warkworth | 0 | 1 | 1 | 0 |
| 20 February | Pukekohe | 2 | 5 | 7 | 29% |
| 21 February | North Shore | 14 | 30 | 44 | 32% |
| 21 February | Shortland St, CBD. | 2 | 10 | 12 | 17% |
| 22 February | Shortland St. CBD. | 2 | 10 | 12 | 17% |
| Total | All venues | 44 | 109 | 153 | 29% |
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.
33 Comments
how did you end up with 2 sales on the 22nd February?
Sold prior?
even if sold prior, it would need to be on the list, there is only 1 showing up as Sold? I would have presumed interest.co would compute the stats based on the data they have than publishing from the agencies?
The sale of a property at Henderson and another at Stillwater which was sold prior, both on our results page.
Indeed, one of those sold properties wasn't on the auction list on the website when I scraped it on Tuesday morning.. so not sure how you can count it as an auction sale or a sold prior if it wasn't on the list in the first place.
also one of the others wasn't there... maybe withdrawn prior to Monday so never made it onto the website list?
Here's the link to it. https://www.barfoot.co.nz/property/residential/rodney-district/stillwater/house/769566. Looks like it was originally scheduled for auction on the 22nd, then brought forward to the 19th but a deal was done before it was offered, but the result still appeared under the original auction date. It probably got lost in the adminsitrative tangle.
Ah yep, it was on the list for the 19th, but reported in the results on the 22nd.
Great result continuing the trend of auction rates picking up as we head towards a great summer.
- Toilet Paper (I'm on a roll)
You been hacked by TTP?
Now is the winter of our discontent made glorious summer…
Discontent, and why not - no place to elude authorities, no place to hide money, no place to launder money and no place to commit mortgage fraud.
A speculators paradise lost?
Auckland auctions are still in the doldrums.
Sydney and Melbourne clearance rates are around the 50% mark and look at the strife they are in.
Akld clearance rates and sales volumes have been pretty pathetic for the last 18 months, something has gotta give.......
Statistics!
Clearance rate of 50% in Sydney and Melbourne may reflect desperate sellers to get out of the market at any price.
Clearly Auckland vendors are not spooked at the moment as rates not too dissimilar to those over the past year or so.
Its a lot easier to hold out for the price you want in a flat market. I'm not sure those same people would be willing people to hold out if they believe prices will be worse in 6 months.
I'm very dubious of the Clearance rates in Australia, result for about half the auctions get used. Eg sydney: 671 listed auctions, 271 sold, 89 withdrawn results in a 61% clearance rate because the results for only 354 auctions were reported. Are many agents/agencies simply not reporting results that don't sell? At least with the barfoots results you get it for all auctions they conduct.
My understanding is Australia continues with the Auction process where as in NZ as the market cools less properties go to Auction and more are Tender/PBN/ or are listed with a price.
I always thought that Shortland Street was a soap not a survivor programme or reality real estate programme.
Sydney and Melbourne clearance rates are in the 50% mark and they are in deep trouble
https://www.abc.net.au/news/2019-02-25/most-properties-on-market-since-…
Auckland's 29% clearance rate and we are still crowing about it.. Yep we are duffurent!
Hopeless optimist :)
Average of less than 18% for CBD auctions. This is not promising for the central city. The CBD auctions are dragging down the average considerably. Removing the CBD results and the clearance rate goes from 29% to 36%.
Considerably - really?
The Central Auckland suburbs in the results cover a wide area that stretches from the CBD out as far as Avondale, and includes suburbs such as Remuera, Mt Eden, Epsom, etc. The number of CBD properties auctioned would have been relatively small.
In Manukau region where the CV was too high and earlier the vendors expectation was near around or 10% below CV are now ready for 20% below CV depending when they had purchased the property. If the vendor is ready to meet the market can still sell the house, if the location and / or house is good.
Anyone who has purchased the property in 2016 (Some in 2015 as well) Onward are not able to sell unless booking a loss but people who have bought the house ages ago are ready to sell and get out fast before the price decline further .As have realized that house price may or may not fall further but one thing is defenite that is not going up from current level for some time to come though all indicators are that may go down more. So sell and book the profit as much possible now (Lower than what they would have got if sold in 2017) but better than what they will get now instead of waiting and selling afterwards.
Can anyone tell me why when I check Trademe listings for Auckland they come at 13500ish, yet when I go a few pages deep, it jumps to over14500? I thought it was weird that it was staying at 13500 despite 150-200 new listing a day. Or should I remove my tin foil hat?
It's possible the 13500 value is a 'stale' value that's only updated periodically, where as when you actually click through the listings you get the real number live form the database.
Pure speculation.
loosen the tinfoil hat a bit :) Listings are trending up, but the rate has slowed probably due to selling season starting.
http://iforce.co.nz/i/ie3navq1.dfr.jpg
Realestate.co.nz should break 14k this week or next, could even get there as soon as tomorrow. The total for houses, units, townhouses and apartments on RE has ticked over 10,000 yesterday, was 8402 on 16/1/2019, so stock levels are definitely rising.
Ha, will do. Was just wondering if anyone else was getting that result.
I do get it too. It's an odd behaviour that seems to consistently occur on their website. I haven't tried going to the end of the listings and multiplying the number of pages by results per page to see which is correct.
Core Logic update 94.78% of 2017 CV as of 24/2
Where is TTP?
Hmmmm, someones feeling lonesome......
As expected, the property Spruikers are thinning in numbers.
We have you surrounded.
China is cracking down on its citizens skirting around the country's tight capital controls to get money out of the country to buy residential property overseas in a move that analysts say will further slow demand in the Australia market.
Thank goodness foreign buyers were not a major factor in the Auckland market!
https://www.afr.com/real-estate/residential/china-cracks-down-on-foreig…
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.