Barfoot & Thompson sold 40% at their latest auctions as sluggish sales trends continue into the peak summer season

The auction rooms are back up to speed again after the summer break, but Auckland sales rates remain at the lower levels evident in the latter part of 2016.

Auckland’s largest real estate agency Barfoot & Thompson marketed 129 properties for auction last week (to February 10). It sold 49 of them either under the hammer or by 5pm the following day, giving a clearance rate of 40%.

That is well below the success rates that were evident in the first half of last year and suggests sales could remain sluggish during this year’s peak summer selling season.

The biggest auctions were on the North Shore where 16 of the 34 properties were sold, giving a clearance rate of 47%, and at Manukau where seven of the 23 properties were sold, giving a clearance rate of 30%.

Results at the company’s head office auction room in the CBD were mixed (see chart below).

The prices achieved for individual properties that were sold and the details of those that didn’t sell are available on our Auction/Sales Results page.

Barfoot & Thompson Auctions: Week ending 10 February
Venue Sold*  Not Sold*  Total
On Site 9 10 19
Manukau: 7 Feb 7 16 23
Shortland St: 7 Feb 4 6 10
Shortland St: 8 Feb 1 5 6
Whangarei: 8 Feb 2 1 3
Shortland St: 8 Feb 5 6 11
Takapuna: 9 Feb 16 18 34
Shortland St: 9 Feb 4 7 11
Shortland St: 10 Feb 1 5 6
Total All Venues 49 74 123
*Sold means sold under the hammer or by 5pm the following day. Not sold includes properties that remained unsold by 5pm the day after the auction and properties that were marketed for sale by auction but withdrawn from sale or postponed before the auction commenced.

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