Sales rates ranged from 21% to 47% at Barfoot & Thompson’s main auctions last week

The overall sales rate was almost exactly a third at Barfoot & Thompson’s auctions last week.

The agency marketed 190 residential properties for sale by auction last week and achieved sales on 65, giving an overall clearance rate of 34%.

Most of those were sold under the hammer although some were sold prior to auction day and some were also sold in the negotiations immediately after the auction.

However, it appears likely that as many again will be sold by negotiation over the next few weeks.

In Barfoot & Thompson’s latest monthly sales report, the agency’s managing director Peter Thompson said about two thirds of properties marketed for sale in January and February had eventually been sold.

That suggests that around a third are selling either under the hammer or in negotiations immediately before or after the auction, with around half of those that are passed in selling by negotiation over the next few days or weeks.

At Barfoot’s auctions last week the highest sales rate was for the properties sold on-site (47%), while the lowest sales rate (apart from a minor auction at Kerikeri) was 21% on the North Shore (see table below).

The results for individual properties are available on our Residential Auction Results page.

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Barfoot & Thompson Auction Results 25 Feb – 3 March 2019
Date Venue Sold Not Sold Total % Sold
25 Feb – 3 March On-site 6 7 13 47%
26 February Manukau 13 23 36 36%
26 February Shortland St, CBD. 5 8 13 38%
27 February Mortgagee/Court Sales 1 2 3 33%
27 February Shortland St, CBD. 15 25 40 38%
27 February Pukekohe 2 4 6 33%
28 February North Shore 8 30 38 21%
28 February Kerikeri 0 2 2 0
28 February Shortland St, CBD. 8 15 23 35%
1 March Shortland St, CBD. 7 9 16 44%
Total All venues 65 125 190 34%