Sales activity remains buoyant at Barfoot & Thompson’s online auction during lockdown

Shift to online-only auctions during lockdown doesn’t deter buyers with 69% sell-through at Barfoot & Thompson’s auction last week

Most estate agencies continued to hold property auctions last week, although they were conducted entirely online due to Tier 4 lockdown restrictions.

Although the move to Tier 4 has seen many sellers postpone scheduled auctions, online auctions have been quick on properties that have gone under the hammer.

Most agencies introduced online auctions after the country first entered Tier 4 lockdown last year, minimizing the disruption to scheduled auction activity this time around .

However, there are still strict restrictions around certain activities such as face-to-face meetings and open houses, and agency branches remain closed.

Auckland’s largest estate agency, Barfoot & Thompson, sold 123 residential properties at online auctions last week (August 14-20), up from 164 the previous week.

Potential buyers did not seem discouraged by the online-only format and sales were made on 85 properties last week compared to 101 the previous week.

This means that the overall sell rate rose to 69% last week from 62% the previous week.

There were strong bids for properties across Auckland, with sale rates ranging from 58% for properties in Manukau to 89% in Rodney (see table below for district-by-district sales results).

Details of individual properties offered at all auctions monitored by interest.co.nz, and the results obtained, are available on our Residential auction results page.

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Barfoot & Thompson Residential Auction Results
August 14 – 20, 2021
Piece Sold Not sold Total % Sold
Rodney 8 1 9 89%
the north coast 12 seven 19 63%
Waitakere 17 8 25 68%
Central Auckland 18 3 21 86%
Manukau 22 16 38 58%
papakura 4 1 5 80%
franklin 4 2 6 67%
Total 85 38 123 69%
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