The overall sales rate at Barfoot & Thompson’s auctions eased back to 28% last week compared to 34% the week before.
The number of properties marketed for sale by auction was almost unchanged at 187 last week compared to 190 the week before, but the number of properties sold dropped to 53 compared to 65 the previous week.
Most of the unsold properties were passed in, which opened them up to conditional offers and sale by negotiation, while a few had their auction dates postponed or were withdrawn from sale.
The sales rates varied widely between the various auctions, with on-site auctions recording the highest sales rate of 56% and the Pukekohe auction the lowest sales rate of 10% (see table below).
However, the most surprising result came from the auction at the agency’s head office auction rooms in Shortland St on March 6, which was a big auction with 47 properties on the Order of Sale.
Most were from Auckland’s upmarket central suburbs such as Glendowie, Orakei, Mt Eden, St Heliers, Remuera, Ponsonby and Herne Bay but Barfoot’s published results show that sales were achieved on just five of them, giving an overall sales clearance rate of just 11%.
That compares with a sales rate of 39% at Barfoot’s big Manukau auction and 33% on the North Shore auction last week.
The results for individual properties auctioned last week are available on our Residential Auction Results page.
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|Date||Venue||Sold||Not sold||Total||% Sold|
|5 March||Shortland St, CBD.||4||7||11||36%|
|6 March||Shortland St, CBD.||5||42||47||11%|
|7 March||North Shore||10||20||30||33%|
|7 March||Shortland St, CBD.||5||10||15||33%|
|8 March||Shortland St, CBD.||5||15||20||25%|