More properties are being auctioned but fewer are being sold at Barfoot & Thompson's auctions

Auction activity has picked up at Barfoot & Thompson over the last few weeks but that has not been matched by an increase in sales clearance rates.

Last week tthe agency, which is the biggest in Auckland by a substantial margin, marketed 169 residential properties for sale by auction and sold just a quarter of them (see chart below).

Those numbers exclude properties that were auctioned on site because the results of those auctions have not been released, but they generally make up only a small number of the properties auctioned in any week.

In the previous week Barfoot marketed 183 properties for sale by auction and achieved sales on 38% of them.

At Barfoot’s major auctions last week, sales  rates were 20% at Manukau and 28% on the North Shore.

At the auction at the company’s Shortland St rooms on 10 November, where most of the properties on offer were in west Auckland, the sales rate was just 12%.

Properties in the central Auckland suburbs continue to sell more readily, with the sales rate at the Shortland St rooms on 8 November, where the properties offered were in suburbs such as Epsom and Remuera, was 32%.

Details of most of the properties offered, including the prices achieved on most of those that sold, can be viewed on our Residential Auction Results page.

Barfoot & Thompson Auction Results 6-12 November 2017
Date Location Sold* Not sold* Total % Sold
6-12 November On site  – – – – –  Results Not Available – – – – –
7 November Manukau 5 20 25 20%
7 November  Shortland St, CBD. 4 6 10 40%
8 November Shortland St, CBD. 12 26 38 32%
8 November Pukekohe 1 7 8 13%
9 November North Shore 13 34 47 28%
9 November Shortland St, CBD 4 7 11 36%
9 November Kerikeri, Northland. 1 4 5 20%
10 November Shortland St, CBD. 3 22 25 12%
Total (excluding on site auctions)   43 126 169 25%
*Sold includes properties sold under the hammer or by 5pm the day after the auction. Not sold includes properties that remained unsold after 5pm the day after the auction, or that had their auction date postponed or cancelled.

 

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