Auction activity is starting to pick up again in Barfoot & Thompson's auction rooms as the market starts to wind back up for the peak summer selling season.
The agency marketed 62 residential properties for sale by auction last week (3-9 February), which was up from 55 in the comparable week of last year (4-10 February).
The sales rate was also higher this year, with 55% of the properties changing hands at last week's auctions compared to 40% in the same week last year.
There were particularly high sales rates at the on-site auctions last week where all of the four properties offered were sold, and at the Shortland St auction on February 5, where 14 properties were offered from a mix of central Auckland suburbs and nine were sold, giving a sales rate of 67%.
Prices also appeared reasonably firm with 76% of sales achieving prices that were higher than their rating valuations, where selling prices and valuations could be matched.
Details of the individual properties taken to auction and the results achieved are available on our Residential Auction Results page.
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