Barfoot & Thompson achieved sales on a third of the properties at the agency's first major auctions of 2019.
Barfoots had 25 properties scheduled for auction last week and achieved sales on eight of them, with the remainder mostly passed in for sale by negotiation, while a few had their auction dates postponed or were withdrawn from sale.
Auction activity dries up almost completely from late December to mid-January, with marketing campaigns kicking off again from mid-January onwards.
That generally sees auction activity starting up again in early February and then steadily building throughout the month, with March usually being the busiest month of the year for the real estate industry.
That has been the trend so far this year, and interest.co.nz has been posting the results of individual auctions on our Residential Auction Results page as they come to hand.
However it is likely to be a couple of weeks before auction activity rises to a level that will be sufficient to provide a pointer to where the market might be headed for the rest of the summer.
There has also been a steady stream of commercial property sales reported, and investors interested in these results can check them out on our Commercial Property Sales page.
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14 Comments
Demand hot for rentals near Auckland Grammar School as families move into zone.
House prices in Remuera are 'recession proof' thanks in part to the suburb's access to sought after schools, according to one local real estate agency.
https://www.nzherald.co.nz/property/news/article.cfm?c_id=8&objectid=12…
that's not factual. when a recession hits, private school rolls dwindle.
“…she bought the Remuera property so her children could go to a "good" school, but left it vacant most of the time because preferred to live elsewhere.”
Is that allowable here? Owning a token apartment to get the children into "The Zone!"? I guess it's just another part of the real estate corruption mess if it is.... (NB: I believe in other jurisdictions, at the slightest hint of 'out of zone' living, parents and children are tracked to see where they actually live)
Seems pointless. If you are going to spend that much on a house to put your kids into AGS or EGGS, why not just forget the house and pony up for Kings or Dio etc?
On a slight tangent, when I went to university there were multiple students who would claim living away allowance by using the family bach as their home address. Despite living within the zone of the university that would preclude this. Same people probably moan these days about dole bludgers.
Happens every year, same as pressure for student accommodation with uni starting.
Wow, the market is turning. . 8 SOLD. ..
Went to Raywhite Auction at Half moon Bay yesterday to see the auction and was surprised to see that the auction room was full (very Full) as use to be during boom time. Only difference was that Asian attendee will be 15% to 20%.
Seeing the full Auction room – result should have been fabulous and first property put up for Auction was proving that but….
Out of 10 Properties on Auction only One property attracted interest and that too very good interest as it went much above CV and had multiple buyers (High End Property went for 2.8 Million Plus) while the rest of the properties failed to sell under the hammer (Did not wait for last 2 but assuming did not went as still listed) few had no interest or few were passed as reserved not met - much below expectation of the vendor (May be would have sold afterwards by negotiation). One property in Sunnyhills (Free hold standing property with 645 sq/mt section and swimming pool) with CV of 1,150,000 where bid started from 850000 and went uptill 905000, was passed for negotiation (My guess is will go for very early 900s) so is 20% Fall from CV and that too in high demand location and brick and tile house with swimming pool.
Wonder how people will sell other properties in that area where are asking more than a million or near around, when excellent property in excellent area go for near around 920000 (It is a do up property)but still many do up property in that area are asking near around million or high 900s (If interested can check on trademe) and those property and area is not as good as compare to this property and location that is going near 900000 to 920000.
Property in Pakuranga and Pakuranga heights and nearby area should fall faster for if am getting a good section house in location like sunnyhills, preference will be in that area but again each individual is different.
So if buyers do their research with recent sell (not sell data before October – which the real estate agents present to compare to put in an offer but sell figures from November or January will see the difference and not end paying more and will save heaps.
Thumps down to the result of first Ray White Auction of 2019 from East Auckland (Manukau).
As have been mentioned many a time with many reader on this website that by March / April end will know the direction of the housing market and if the last auction trend (That started from November) will continue than deep fall is imminent atleast in Auckland and more so in Pakuranga, Bucklands Beach, Howick and nearby area where I have been following the trend and can confidently comment.
Do you know how 180B Cook Street, Howick went?
It had few interest but did not sell under the hammer but it seems was sold after negotiation.
'That generally sees auction activity starting up again in early February and then steadily building throughout the month, with March usually being the busiest month of the year for the real estate industry.'
Above will give hope to some from the industry but current trend indicates that the downfall that has started since October/November will continue and the only thing to watch out our is how deep the fall will be ?
House will still sell as long as vendors are ready to meet he market expectation.
So just under a third sold in peak summer selling season
still looking pretty dismal
Eight sold suggests that there really isn't a shortage of housing.
A third is very dismal. They were getting that or even in the 40s in Sydney during the big decline of the past year.
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