Residential auction activity remained buoyant in the first week of July compared to the same period of last year.
Interest.co.nz monitored 230 residential property auctions in the week from June 29 to July 5, which was up 61% compared to the 143 auctions it monitored in the week of 1-7 July last year.
And more than twice as many sales were achieved at last week's auctions compared to the equivalent week of last year.
Of the 230 properties marketed for auction in the week of June 29 to July 5, sales were achieved on 132, giving an overall sales rate of 57%.
But in the week of July 1-7 last year sales were achieved on just 62 properties, giving an overall sales rate of 43%.
Prices also looked reasonably buoyant.
Where interest.co.nz was able to match selling prices with rating valuations (RVs) on the properties that sold, 81% of prices were higher than their RVs on the properties that sold in the first week of July this year, compared to 49% that were higher than their RVs in the equivalent week of last year.
Which suggests that although it might be cold outside, the relatively high level of activity is keeping the auction rooms nice and toasty.
Details of all the properties offered at the auctions monitored by interest.co.nz and the results achieved are available on our Residential Auction Results page.
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