Bayleys auction clearance rate just 52% last week, even worse in the Waikato

This three bedroom house in Mangere East sold for $485,000.

It was a quieter week in Bayleys’ auction rooms last week, with just over half the properties offered being sold and the rest passed in.

Bayleys marketed 35 properties for sale by auction last week,  two of which were withdrawn just before the auction, leaving 33 to go under the hammer.

Of those 17 were sold and 16 were passed in, giving a clearance rate of 52%.

The most expensive sale of the week was a house in Bucklands Beach which went for $1.4 million and the cheapest residential property to sell was a house in Mangere East which sold for $485,000.

Sales were particularly slow in the Waikato, where eight properties were put up for auction but only two were sold and one of those was a 60ha farm block and the other was an equine centre. 

All of the residential properties auctioned in the Waikato were passed in.

See below for the full results: