The auction sales rate at Auckland's largest real estate agency has remained remarkably steady throughout the peak March selling season at 28-29%.
Barfoot & Thompson marketed 187 residential properties for sale by auction in the week from 4-10 March and sold 53 of them, giving an overall clearance rate of 28%.
In the following week (11-17 Match) 161 properties were marketed for auction and sales achieved on 46, giving a clearance rate of 29% and in the latest week from 18-24 March 174 properties were marketed for auction and sales achieved on 52, leaving the clearance rate unchanged at 29%.
Those sales rates will likely increase significantly over the next few weeks as the unsold properties are marketed sale by negotiation, which will open them up for offers from conditional buyers.
At Barfoot's auctions last week the sales rates at the major auctions where at least 10 properties were offered ranged from 21% at the Shortland St auction on March 20, where most of the properties offered were from the more expensive central Auckland suburbs such as Remuera, Greenlane, Meadowbank, St Heliers, Mt Eden and Herne Bay, to 46% for the on-site auctions, followed close behind by the Shortland St auction on March 21 where most of the properties offered were from central/fringe suburbs such as Greenlane, One tree Hill, Onehunga, and Hillsborough and the sale rate was 45%
At the big Manukau auction the sales clearance rate was 22% and on the North Shore it was 26% (see table below).
Details of the individual properties offered and their results are available on our Residential Auction Results page.
|Date||Venue||Sold||Not Sold||Total||% Sold|
|19 March||Shortland St, CBD.||8||6||14||57%|
|20 March||Shortland St, CBD.||6||22||28||21%|
|21 March||North Shore||9||25||34||26%|
|21 March||Shortland St, CBD.||5||6||11||45%|
|22 March||Shortland St, CBD.||4||13||17||24%|
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