Frenzied Bidding At House Auction

Valuations get hammered
Nov 26, 2011 Phil Taylor NZ Herald

Auckland Council’s revised property valuations are supposed to represent probable market value. The Weekend Herald put them to the test at a busy auction day.

It seems owners held off selling until after the Rugby World Cup. That, and the springtime bump, have Barfoot and Thompson’s auction rooms buzzing.

It is Wednesday, and five auctioneers take turns chomping through 74 properties. Sixty-four per cent sell. It takes most of the day so February must be a frenzy.

Read the rest of the story here:

http://www.nzherald.co.nz/nz/news/article.cfm?c_id=1&objectid=10768806

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