Real estate firm says wind-down could start as early as this week
As Christmas approaches, Barfoot & Thompson expects its auction activity to wind down – even as early as this week.
The real estate firm’s auction numbers remained solid in the first week of December – but that changed as early as this week, with only 101 residential properties on the Orders of Sale for its auctions this week. It expects next week’s figures to drop further.
Its sales rate also slightly dropped last week – with sales being achieved on 83 properties and therefore taking the sales rate to only 49% compared to 56% in the previous week.
Last week, the real estate agency handled 171 residential property auctions, a jump from only 156 in the last week of November.
The biggest auctions last week were on the North Shore with 42 properties, where the sales rate was 52%. Manukau comes second with 32 properties, with a sales rate of 56%. Meanwhile, Shortland’s auction on December 4 had most of the 30 properties on offer – including Epsom, Glendowie, Grey Lynn, Meadowbank, Mt Eden, Orakei, and Remuera. The sales rate was 50%.
