Auckland Auction Sale Rates Plummet Giving the Perfect Opportunity to Use Auckland House Buyers

Auckland saw some impressive statistics last year with 80% clearance at auctions, proving how easily housing prices can become inflated by aggressive buyers and those who are simply trying to find their first home or get a fair deal are left with nothing. However, in the last few months clearances have dropped to 30-40%.

Barfoot & Thomson are a big name with a big reputation. However, at their most recent auction sale in Shortland Street only 9/25 properties sold. The 36% success rate shows how much the market has dropped since September/October. Asking prices have already seen significant drops and vendors are coming to the realisation that their property isn’t worth the inflated price that it may have achieved a couple of months ago.

At Barfoot's main auctions, there were sales clearance rates of 30% at the Manukau auction, 23% on the North Shore and 33% at the Shortland St auction on 17 May, when most of the properties on offer were from central Auckland suburbs such as Grey Lynn, Epsom, Mt Eden, Mt Roskill and Kohimarama. 

This auction sale rate is a result of vendors pricing their property too high, not realising prices have cooled off in this down market. With fewer houses selling, its the perfect opportunity to consider using the services of Auckland House Buyers to sell privately, as vendors will have certainty with them being cash buyers.

Putting your house on the market is a stressful process, so why play the waiting game? Selling direct means you can avoid hefty agent fees and expensive advertising while still getting a fair market price. In most cases, a real estate agent will require you to sign a contract to give that agent the exclusive rights to only sell your house. A common time frame for this agreement is three months. This puts you in a tight position where if your agent is unable to sell your house or get the price you are after, you cannot exit this agreement before the contract ends.

At Auckland House Buyers they buy houses privately, meaning there is no real estate agent. They can give you a cash offer with no obligations, and it’s th up to you whether you accept or decline the offer, so to find out more please visit the website at http://www.aucklandhousebuyers.co.nz .