Buyers were cautious at the last major Auckland apartment auctions before this weekend’s general election.
At Barfoot & Thompson’s regular apartment auction it was a thin crowd of potential purchasers that turned up for the three apartments on offer, all of which were larger units ranging in size from 62-131 square metres, which meant they could have appealed more to owner-occupiers than investors.
However none of the properties received any bids and all three were passed in for sale by negotiation.
At Ray White City Apartments’ auction, one of the biggest crowds we’ve seen for a while turned up for the five apartments on offer.
Two of the apartments were on leasehold titles, one was in a terraced house complex in Eden Terrace, and there were two CBD apartments on freehold titles.
There was extremely spirited bidding for one of the apartments and the terraced house, both of which were sold under the hammer, but there was very little interest in the other three.
One of the leasehold apartments didn’t receive any bids. The other received just a single bid before they were both passed in. There was a lone bidder who raised his hand on the remaining unit and it was passed in as well.
So the overall clearance rate from both of this week’s auctions was 25%.
The full results with details of all properties offered are available on our Residential Auction Results page
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