Property auctions
Second busiest week of the year in the residential property auction rooms last week
Just under half the residential properties being auctioned are selling under the hammer
An improved sales rate at the Auckland auctions but sales slumped in Canterbury
Dramatic slide in the number of homes being auctioned but the sales rate has barely changed over the last year
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Dramatic slide in the number of homes being auctioned but the sales rate has barely changed over the last year
Auction rooms remain busier but fewer homes sold under the hammer last week
No sign of a spring breeze to lift auction activity off its current lows
Even allowing for the effect of school holidays last week's auction numbers were low
A quarter of properties selling under the hammer at auctions is the new normal
The auction sales rate is slightly lower for properties in Auckland than the rest of the country
Prices at Bayleys' auctions started at $580,000 in Auckland, $395,000 in Cambridge and $626,000 in Hastings
Prices at Bayleys' auctions started at $580,000 in Auckland, $395,000 in Cambridge and $626,000 in Hastings
The downturn in auction sales may have hit the bottom in Auckland but don't expect a return to the frenzied bidding of the last few years
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The downturn in auction sales may have hit the bottom in Auckland but don't expect a return to the frenzied bidding of the last few years