Homes in West Auckland struggle to sell at Barfoot & Thompson auction

Barfoot & Thompson sold 81 of the 224 properties the agency marketed for sale by auction last week, giving an overall clearance rate of 36%.

However results varied widely between auction with a very low sales rate at the Shortland St auction on March 31, where all but one of the 25 properties on offer were in West Auckland.

They included a reasonable mix of homes from throughout the district, including properties in in Kelston, Te Atatu, Massey, Glendene, New Lynn, Henderson, Ranui, Glen Eden and Sunnyvale.

But only three of the 25 properties were sold either under the hammer or by 5pm the following day, giving an overall clearance rate of just 12%.

Of the 22 that were unsold, six were withdrawn from sale.

The highest sales rate was at the Shortland St auction on 28 March, where about half of the 21 properties on offer were in central Auckland suburbs, including Lynfield, Mt Eden, Sandringham, Remuera, Mt Albert, Blockhouse Bay and Mt Roskill, and the rest were from west Auckland.

Thirteen of the properties were sold by 5pm the day after the auction, giving a sales rate of 62%, however most of the sales were in the central Auckland suburbs while most of the West Auckland properties were passed in.

At the North Shore auction, 43% of the properties found new owners by 5pm the following day and at Manukau there was a 30% sales rate.

See the chart below for the auction summaries, or go to our Auction Results page to check individual prices of the properties that sold, and the details of those that didn’t.

Barfoot & Thompson Auction Results- Week ending 31 March 2017
Venue Sold* Not sold* Total
On site. 11 15 26
Manukau, 28 March 13 31 44
Shortland St, 28 March  13 8 21
Shortland St, 29 March 12 29 41
Pukekohe, 29 March 1 2 3
North Shore, 30 March 18 24 42
Shortland St, 30 March 10 12 22
Shortland St, 31 March 3 22 25
Total 81 143 224
*Sold includes properties sold under the hammer or by 5pm the following day. Not sold includes properties not sold by 5pm the following day, or that had their auctions postponed or were withdrawn from sale.