Auction rooms around the country remained becalmed last week, with almost no change in either the number of properties being offered or the number selling under the hammer.
Interest.co.nz monitored the auctions for 187 residential properties around New Zealand last week (22-28 October), compared to 186 the previous week.
Of those, 61 sold under the hammer, down a smidgen from 63 the previous week.
That took the overall sales rate to 33% compared to 34% the previous week.
So it was steady as she goes but there is still no sign of a spring breeze to lift auction room activity, which remains at very low levels.
Details of the individual properties offered at all of the auctions monitored by interest.co.nz, including the prices of the properties that sold, are available on our Residential Auction Results page.
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48 Comments
God himself could not sink NZ housing boom, but Adrian Orr might've cracked it!
Chairman Moa, beg to differ as the belief is that in NZ even the God could not sink the housing bonanza.
Adrian Orr or politicans may crack it but will put all their might behind the scene to support it. No intent otherwise not impossible to attack inflation.
Ask Mr Orr what happened to his now famous LEAST REGRET Approach.
I think he'd say that he has no regrets.
No Regerts.... idiot
Like the TV ad
God himself could not sink NZ housing boom, but Adrian Orr might've cracked it!
Kaumatua Orr might not be God, but he's the connection to a higher spiritual realm.
They keep pushing auctions because its in the Agencies financial interests. I would only do one it the agency/agent agreed to take all the risk/costs.
Now over 12650 on trademe in Auckland stock building up and house price’s tumbling interest rates going up to next level will also push price’s lower.
Key word of the day "doldrums"
Being that it's supposed to be the peak selling season, no Spruiker can spin it here differently.
Oh no, hang-on, maybe they can perform more renditions of past "fading" performances🤕
I've been checking the watchlist on my share trading platform 👍
There is a distinct "spring in the air" mood with green shoots popping up everywhere.
TAKE NOTE: The sharemarket is a leading indicator for the economy and property market
That bear rally is just on the whispers of a potential FED pivot. I think we will see green "chutes" instead as investors try to slow the fall.
Green chutes. Clever!
Green shoots huh - 👏👏👏
Are those growlux lamps expensive to run?🌿
Tomatoe time.......
If wishes were horses......
Yes the trade winds are now but a distant memory. And whats that ahead on the horizon, the easterly trade??? No I fear not, its a Force 12 hurricane right on the nose.
Yes the trade winds are now but a distant memory. And whats that ahead on the horizon, the easterly trade??? No I fear not, its a Force 12 hurricane right on the nose.
This is consistent with a "butterfly flaps its wings".
Hasn't really been a butterfly, though, has it? Unless it was a swarm of gigantic butterflies armed with sledgehammers smashing interest rates to the ground for a decade.
Basically, only houses that are well presented and in good location (Highly desirable) and attracting minimum two genuine bidders are being sold at decent price (Neith premium nor too cheap) - rest all are Sc$%#d.
Housing Market is down but not yet out. The fall is not as should have happened by now as too much money still in the system.
Next leg of fall, when it happen will be painfull as till now only froth has been cleared but the cup is still full. (If it happens - It should as all data / indicators points towards a crash, unless the myth that Housing market in NZ, is a one way street is correct).
Wait and Watch
REA Carinaz would you like a new listing?
Once interest rates only start with a 7 or 8 then it's going to be a hard sell. I wonder how many agents have left the industry.
I miss ikimpaul's comments, especially her analysis of the Hutt Valley market.
Any reason why she is still on the Naughty Step?
There is no return from the naughty step around here.
Only the Prophet can be resurrected. Will we receive a new scroll for Christmas?
The only "Scroll" most people on here are trying to interpret is the embossed one while sitting in the bathroom.
So... what did you manage to interpret Carlos? Need a bit more fibre in your diet?
Can always start another account but I think some people would do what I have done in the past and just walk away from some "Forums".
She must have realised the market is not as dire as prophesied. I cant wait to see how many down-spruikers are falling off the comments section. I prophesy, at least one quarter
Naughty step or just lost interest?
If the investors are gone and there are no profits to be made, and the only buyers left are FHB. This has a lot of down to go I suspect. I asked a while ago when the government would intervene and told it would be very unlikely. Lucky the ANZ has made so much profit it can support people in negative equity :)
If the investors are gone and there are no profits to be made, and the only buyers left are FHB. This has a lot of down to go I suspect. I asked a while ago when the government would intervene and told it would be very unlikely. Lucky the ANZ has made so much profit it can support people in negative equity :)
Can the ANZ do something about the negative wealth effect as well? Methinks not.
"Sorry Mr John Key, your Aston Martin will take a month for your WOF check to be completed"
"That's preposterous! This is a VTNZ drive in WOF station!"
"Hmmm well that's a pickle that is... yeah.....tough biscuit indeedy....'tell you what, if you slip me and each of my boys here us a few grand each I'm sure we could slip you in just before the lady there with the 1995 ford laser that just drove in. Then again you could go to another garage but times are getting tough, and I'd say you'll find they all have the same issue. You could also do it yourself, buuuut we know you don't like getting your hands dirty"
Exactly - NZ, the land of millionaires who can't get stuff done for them because work doesn't generate "passive income".
I suspect some are holding off for National to get in... Will 7 property Luxon follow through though...
If your 2-3% specu loan is expiring there or there about's, I would agree.
Why do people keep banging on about his houses? I see people in the news who have twice that and are half his age. I have an aunt with over 10 in Auck, shes a doctor, no one questions it. I know a labour poly who's bought two since getting to wellington 5 years ago.
Is a doctor responsible for leading the country and introducing or repealing legislation?
I wonder how having 7 properties could influence the decisions you make as a Primeminister...
You do realise that Luxon had a far more lucractive career before politics that could have enriched him many times over whatever levers he could pull to boost his wealth via the seven properties he owns, right? Like that would be a tremendously stupid use of his time.
This is one of the most ridiculous and laziest talking points and you'd think he was the first MP to own a residential rental property from the way some people carry on.
It's hard to beat having the power of being a primeminister, certainly a good way to pull many levers to increase your wealth & influence...
True, a bit like campaigning on fixing the housing crisis. Doing nothing about it when elected, and quitting your job early to get a job on the board with the biggest benefactor of said housing crisis.
While selling your house to a foreign buyer for far more than its RV.
You do realise that Luxon had a far more lucractive career before politics that could have enriched him many times over whatever levers he could pull to boost his wealth via the seven properties he owns, right? Like that would be a tremendously stupid use of his time.
Possibly. I think it's quite outrageous that an Air NZ CEO would be paid similar to a senior Unilever exec though.
I agree with what you say.
Given he's so wealthy it seems a bit on the nose to be using the private superannuation scheme workaround to claim extra taxpayer allowances to rent his own house from himself, then. As you point out, doesn't need the money...
You honestly think that is his motivation? A little extra money. The labor poly I mentioned you don't question but I can tell you they would leave the job but like the perks to much and you couldn't care less right?
I consider Luxon somewhat of a poster child for many things that are wrong with NZ, where people who've accumulated a bit of money use it to parasitise off other people through residential properties, rather than investing in more productive enterprises.
As long as that is normalised and encouraged our problems of low productivity, lack of business capital and unaffordable housing aren't going to improve.
Are you telling me he doesn't own any productive investments, or that he couldn't have had 15-20 properties on the back of that career if he really wanted?
Maybe he's got some shares somewhere. He doesn't show up on a companies director/shareholding search though. Could be some offshore investments, or he's piled all his earnings into 7 mortgage free properties and a nice home for his family?
That is clearly, obviously, not what Sparrow is telling you.
It is almost like you read a completely different comment.
Wait for the one roof article where there will be a Herne bay property with competitive bidders
"Buyers Not Alone Desiring Herne Bay Home"
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