Buyers had plenty of choice at Barfoot & Thompson’s auctions last week with the agency marketing 161 properties for sale by auction between 11 and 17 March.
Of those, 46 (29%) had sold by the close of business the day after the auction, with the rest mostly passed in for sale by negotiation, which generally also makes them available for offers from conditional buyers.
Of the major auctions where at least 10 properties were offered, the highest sales rate of 44% was for properties auctioned on-site, followed by the Shortland Street auction on March 12 and 15, which both had sales rates of 36% (see table below).
The Shortland St auction on March 12 offered a mix of properties from central suburbs such as Epsom and Mt Roskill and west Auckland suburbs such as Glen Eden and Henderson, while the auction on March 15 mostly offered properties in west Auckland.
The lowest sales rate among the major auctions was the Shortland St auction on March 13, where 35 properties were offered, most of them in upmarket, central Auckland suburbs such as Remuera, St Heliers, Meadowbank, Epsom, Ponsonby, Mt Eden and Grey Lynn, with sales achieved on six of them, giving a sales clearance rate of just 17%.
It appears that the properties in Auckland’s leafy central suburbs are now the slowest to sell, a complete turnaround from the situation over the last few years when those suburbs usually had some of the highest sales rates.
Details of individual properties offered and the results achieved are available on our Residential Auction Results page.
|Date||Venue||Sold||Not Sold||Total||% Sold|
|12 March||Shortland St, CBD.||4||7||11||36%|
|13 March||Shortland St, CBD.||6||29||35||17%|
|14 March||North Shore||9||25||34||26%|
|14 March||Shortland St, CBD.||4||5||9||44%|
|14 March||Mt Roskill||2||2||4||50%|
|15 March||Shortland St, CBD.||4||7||11||36%|
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