Barfoot & Thompson's confirmation that Auckland's residential property market hit a turning point last month was also reflected in the four major auctions the company conducted last week that were monitored by interest.co.nz, with more properties failing to attract any bids than were sold under the hammer.

One hundred and sixty residential properties from across the Auckland region were put up for auction at the four events last week, which were conducted at Manukau, on the North Shore and at Barfoot & Thompson's flagship CBD head office auction rooms.

Of those, 48 (30%) were sold under the hammer and the remaining 112 were passed in for sale by negotiation (see table below).

Sixty three of the properties that were passed in did not receive any bids, which was just under 40% of the total number of properties auctioned.

The clearance rate (the percentage of auctioned properties sold under the hammer) at the four auctions covered by interest.co.nz last week was the same as the 30% clearance rate reported by Barfoot for the whole of November.

Interest.co.nz does not cover Barfoot & Thompson's smaller auctions such as those conducted on site, or their larger Thursday afternoon auction in Auckland's CBD.

Barfoots reported selling another 20% of auctioned properties within 24 hours of the them being auctioned last month, which meant half were sold within a day of them going under the hammer.

The full results the four Barfoot auctions covered by interest.co.nz last week, with the details of all properties auctioned including those that didn't sell, and the prices achieved on those that did, are available on our Auctions/Sales Results page.

Barfoot & Thompson's residential auctions monitored by interest.co.nz last week Venue Number auctioned Sold under the hammer Passed in Number receiving no bids Manukau Sports Bowl, 29 Nov. 36 9 27 12 34 Shortland St, Auckland CBD, November 30 65 21 44 24 Bruce Mason Centre, North Shore, December 1 32 6 26 16 34 Shortland St, Auckland CBD December 2 27 12 15 11