Residential auction activity remains at very low levels, although the sales rate picked up slightly last week with a third of the properties overall selling under the hammer at the auctions monitored by interest.co.nz.
There were just 146 properties offered at the auctions around the country that were monitored by interest.co.nz last week (23-29 July). That's down slightly from 151 the previous week.
Of those, 49 were sold under the hammer giving an overall sales rate of 34%, up from 26% the previous week.
Things are unlikely to improve much in the next few weeks.
August can often be a quieter month than July for real estate sales and the Orders of Sale from the auction rooms for this week suggest activity will remain subdued.
The table below shows the district-by-district results from last week's auctions.
Details of the individual properties offered at all of the auctions monitored by interest.co.nz, including the selling prices of the properties that sold, are available on our Residential Auction Results page.
The comment stream on this story is now closed.
- You can have articles like this delivered directly to your inbox via our free Property Newsletter. We send it out 3-5 times a week with all of our property-related news, including auction results, interest rate movements and market commentary and analysis. To start receiving them, register here (it's free) and when approved you can select any of our free email newsletters.
10 Comments
Won't someone spare a thought for the poor auctioneers?
No upvotes. It seems not.
Great to see some good news. Sales rate picking up.
"Things are unlikely to improve much in the next few weeks."
Or for the next few years for that matter.
Dead cat bounce - just wondering.....
Overall #'s sold at auction, or the % actually sold?
As much as it has been down played in the article, that is actually quite a big uptick for the last week of July.
These numbers are now so small that small movements in actual data are causing big % changes. As the denominator tends to and lower than 100, using percentages as a measure of change becomes less and less useful.
It's called low volume statistics - you can't draw any meaningful conclusion ( but that won't stop people trying.....)
Govt must do something to help those poor auctioneers, some kinds of wage subsidies..!
We welcome your comments below. If you are not already registered, please register to comment.
Remember we welcome robust, respectful and insightful debate. We don't welcome abusive or defamatory comments and will de-register those repeatedly making such comments. Our current comment policy is here.