Sales were achieved on just over a third of the properties at Barfoot & Thompson's latest residential property auctions.
Barfoot marketed 106 properties for sale by auction last week and achieved sales on 38 of them, giving an overall sales clearance rate of 36%.
At the major auctions where at least 10 properties were offered, the sales rates ranged from 37% at the Manukau auction where most of the properties offered were from south and eastern Auckland, to 44% at the Shortland St auction on 11 July, where most of the properties offered were from central Auckland suburbs such as Epsom, Mt Eden, Grey Lynn, and Mt Roskill.
At the North Shore auction the sales rate was 40% (see chart below).
Details of the individual properties offered and the prices achieved on most of those that sold are available on our Residential Auction Results page.
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| Date | Venue | Sold | Not Sold | Total | % Sold |
| 9-15 July | On site | 2 | 5 | 7 | 29% |
| 10 July | Manukau | 7 | 12 | 19 | 37% |
| 10 July | Shortland St, CBD. | 3 | 4 | 7 | 43% |
| 11 July (High Court/Mortgagee) | Shortland St, CBD | 1 | 1 | 2 | 50% |
| 11 July | Whangarei | 1 | 3 | 4 | 25% |
| 11 July | Shortland St, CBD. | 8 | 10 | 18 | 44% |
| 11 July | Pukekohe | 1 | 5 | 6 | 17% |
| 12 July | Kerikeri | 0 | 3 | 3 | 0 |
| 12 July | North Shore | 10 | 15 | 25 | 40% |
| 12 July | Shortland St, CBD. | 1 | 3 | 4 | 25% |
| 12 July | Waiuku | 1 | 1 | 2 | 50% |
| 12 July | Shortland St, CBD. | 3 | 6 | 9 | 33% |
| Total | All values | 38 | 68 | 106 | 36% |
76 Comments
Beijing cartoonist Tinyeyes illustrated the differences between Chinese and Westerners' minds.
https://buff.ly/2KQTzzu
Here is the relevant section of the comment policy.
"We encourage people to make comments that are on topic, or related to the story they're posted on. Both 90 seconds at 9 am and Top 10 do, however, both offer a more general forum for broader discussion and debate."
It's off-topic nonsense. Nobody cares about what he is signalling and those with a limited IQ will often find reading and writing garbage to be meaningful.
BROCK LANDERS
My stereotypes about chinese is that they're brainwashed communists and hyper nationalist who see nothing wrong about invading tibet, putting ethnic minorities in xinjiang in concentration camps, whittling away democracy in hong kong, and one day (hopefully!) launching missiles at Taiwan and capturing the Senkakus from Japan.
Most of them don't eat dogs or cats - especially not the city slickers that can afford to make it to NZ.
Do you actually have any asian acquaintances?
A lot. Vietnamese, Korean, Taiwanese, Chinese. All of them very nationalist. Only in the Chinese does it reach the creepy level, IME. Middle Kingdom, descendants of dragons, 5000 years of culture and all that crap.
How many times have you been to an asian country?
Quite a few times. Maybe we can compare visa stamps like little boys in the 1970s with baseball cards. You may win though.
Here's a question for you - can you have a conversation with your wifes parents?
I think it has EVERYTHING to do with this article BL. Haven't you lot of DGM cry babies been singling out the Chinese foreign buyers for snapping up properties in Auckland in the last 10 years, and this is just to show you how the different thought process between Asians and Westerners can influence the property investment decision making. Use your brain for once ffs when reading posts instead of waiting to be spoon fed...and that, my friend, is another difference in our cultures.
Hi DGZ,
You are absolutely correct. Those were exactly the types of thought I had when I looked at the item.
In fact, I consider it to be one of the more interesting posts that we've had here for a while. A little gem that really got me thinking.
But sure, those who are narrow-minded and inflexible in their cognitive processes won't gain too much from it. Horses for courses........
TTP
I'm not going to listen to a lesson on rational discrimination from a chinese person LOL. You're from a country where people literally see people, point and literally yell "WHITE PERSON!!!". And don't give me any nonsense about waiguoren meaning foreigner, that's a literal meaning, we all know what it actually means.
That's not even mentioning the fact you don't naturalise citizens, that you treat SE Asians like slaves, that you kidnap brides from neighbouring countries, or that you riot when black people get too comfortable in your universities.
Century 21 New Zealand has experienced a 64% increase in the number of new residential property listings compared to mid-July last year. And compared to mid-June, listings are up a staggering 109% in just one month.
Mr Barnett says new listings in Auckland remain strong despite things levelling out after several years of unsustainable price rises
http://www.scoop.co.nz/stories/BU1807/S00365/big-jump-in-new-listings-f…
Another piece of positive good news for property investors: Queenstown cottage sold for $3m
https://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=12…
that town is an interesting study, locals have been forced away , a large percentage of sales are to overseas owners, local companies are now struggling to find housing for their workers needed to service the industry and some of the big ones are looking at building there own apartment blocks.
its a bit like watching a slow train wreck as the balance is out of wack.
yes they need foreign investors for the hotel apartments but do they need them to scoop up all the rest of the housing?
Mmm Pigeon Pie. In the UK we've had a bit of an issue with some our recent arrivals having a penchant for swans..I kid you not, they have been disappearing from parks and lakes all over the country, which is not good really because all swans in the UK actually belong to the Queen and it's making here terribly upset.
Some say it's all a consequence of high immigration levels and high house prices forcing the overleveraged and poorer arrivals to eat whatever they can get their hands on. London is the worst apparently, like Auckland there there has been a lot of speculative purchasing of apartments from overseas and it's been terrible for the native Swan population.
I do feel for NZ's native birds, they were recovering so well..
More importantly REINZ regional data for July: https://www.reinz.co.nz/Media/Default/Statistic%20Documents/2018/Reside…
Hi R-P,
Give me a house any day. A house would save me $25,000-$30,000 per annum in rent alone!
It would take an awfully large term deposit to yield that much interest (after tax).
Over time, money in term deposits loses its value with inflation. That brings no joy to most people.
A modest term deposit that will cover living expenses for, say, six months (e.g. in the event of job redundancy) is sensible........ But as a long term investment vehicle, term deposits will only get you poorer sooner. (But pretty well everyone knows that.)
TTP
Over time, money in term deposits loses its value with inflation. That brings no joy to most people.
...Exactly how do term deposits lose their value to inflation?
Given that the rate is pretty much calculated as neutral of expected inflation above the risk free rate and liquidity premium.
Also, tell us exactly how it is that houses aren't subject to the same burden of inflation?
Or is this another comment you didn't really think through before posting?
Hi nymad,
Because through much of NZ's modern history, inflation (whether measured by the CPI, or a producer price index, or a remuneration index) has exceeded bank term deposit interest rates. Further, tax needs to be deducted from the TD interest - often (but not always) at the marginal tax rate....... So the real return worsens for depositors.
I read a comparative analysis some time ago, written by an academic in one of the universities. It gives a good clue as to why people don't become too rich "investing" in bank term deposits.
What people like Retired-Poppy need to know is that it's the banks that do well from term deposits - not the depositors. So why be a slave to the trading banks?
By the way, nymad, have you yet discovered the difference between structural and cyclical phenomena? Or do you just toss jargon around - clueless about what it actually means?
Your ego-tripping won't fool everyone.
TTP
Because through much of NZ's modern history, inflation (whether measured by the CPI, or a producer price index, or a remuneration index) has exceeded bank term deposit interest rates.
Really.
You honestly think that?
You do know how to difference two numbers, right? And what the (implied) positive and negative signs are interpreted as, right?
By the way, nymad, have you yet discovered the difference between structural and cyclical phenomena?
Discovered that a long time ago, TTP. Perhaps one day you will too. I don't hold high hopes, though.
It's weird how you keep bringing this up - It stinks of the mother of all inferiority complexes, on your part.
Ironic seeing as it was your understanding that was (is) wrong.
Hi nymad,
On economic matters, I read what those in academia (and the banking sector) have to say - experts who have done the research and had it reviewed by their peers.
Have to say I have more regard for them than I do for the likes of you.
By the way, you're the one that confessed (here) that you didn't understand the difference re structural/cyclical phenomena - as you well know. Your ignorance astounded me.
I remind you of that from time to time - because I reckon it might help ground you (i.e. stop you flapping your ego in the breeze).
By the way, I'd put your contributions here on a par with Retired-Poppy's - as far as quality is concerned.
TTP
Oh. Please do send us your academic references for the claim "through much of NZ's modern history, inflation (whether measured by the CPI, or a producer price index, or a remuneration index) has exceeded bank term deposit interest rates."
I would love to read them.
Or, perhaps, we should once again chalk this up as being another prime example of your gross misunderstandings.
I don't know man, I don't think FHBs want to live in a term deposit, and they're probably not in the life stage that they need to own a fixed income asset like that. Plus how long does it take before the median price dips to an affordable level? 7 years? 10 years? Most FHBs I know are not planning on waiting that long.
My advice to FHBs is to look out for retirees like Reginald Perrin here, who are downsizing to a rest home, and make them a reasonable offer.
Yvil, you're excused. At 2330 hours, it's easy more most to miss the mark. If you read my post more carefully, I was referring to Auckland's YOY declines. Prices up YOY Nationwide yes, not so month on month. These are the irrefutable facts as taken from the REINZ July 2018 report.
For me TDs are a resting spot for my cash. I don’t expect them to be long term holds. If you compare the wealth increase I’ve experienced just holding a house compared to say how screwed Houses Overpriced must be over the last seven years holding other assets then you see the long term folly of holding cash.
Auckland Council and QV in stoush, thousands of property rates valuations affected.
These valuations are incredibly important for ratepayers as they obviously impact the size of our rates bill!
Glad Auckland Council is withholding payment until it’s sorted out...
https://www.stuff.co.nz/business/105527774/Auckland-Council-and-QV-in-s…
It always annoys me greatly when we get these sanctimonious types labeling NZ and Aussie as racist.
Who isn't racist at the end of the day? the only difference is the levels of it. Its got very little to do with appearance. Its about culture, language, values and actions. Its human nature and to think otherwise is just fanciful.
If you think we are racist I encourage you to spend an extended time or to even live and work in China. NZ rolls out the red carpet in comparison and yet its all one way immigration!
They are without a shadow of doubt the most racist people I have ever seen, and I've been everywhere literally.
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