Real estate auction rooms throughout the country remained busy right up until it was announced that Level Four restrictions on personal movement were to be introduced.
Interest.co.nz monitored 334 residential property auctions around the country in the week from March 16-22, which was half way between the 304 that were monitored in the previous week and the 362 that were monitored in the week before that.
However numbers were running well ahead of the same timed last year (18-24 March 2019) when just 209 auctions were monitored.
The numbers suggest the real estate industry was on track for a reasonably buoyant March, which is traditionally the busiest month of the year, before it came to a screeching halt early this week, with auctions and open homes cancelled and marketing campaigns put on hold.
Sales numbers were also holding up with exactly half of the 334 properties offered at auction last week finding new owners.
That was well up on the 37% sales rate in the equivalent week of last year.
Prices were also firm, with 71% of selling prices being above the property's Rating Valuation (where these could be matched).
There was almost no difference between the figures for Auckland and the rest of the country, with sales on 49% of properties at the Auckland auctions and 74% of the sold properties in Auckland fetching more than their Rating Valuation.
Details of the individual properties offered (many with photos) and the results achieved, can be viewed on our Residential Auction Results page.
This will be interest.co.nz's last residential auction report until the current COVID-19 lockdown is lifted and auction activity starts to return to normal.
In the meantime we will continue to post any new results we receive to our Residential Auction Results page, but we expect these to be few and far between.
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