Residential auction activity continues to slowly decline as the market settles into its winter trading pattern.
Interest.co.nz monitored 259 residential auctions in the second week of June (June 7-13), down from 270 the previous week (May 31 - June 6). Numbers for both weeks were well down from the mid-300s, which were common over April and May.
While the number of properties being auctioned has eased back, the sales rate has ticked up slightly.
In the week of June 7-13, sales were achieved on 161 properties, giving an overall sales rate of 62%.That's up from 56% the previous week.
Weekly sales rates tended to hover at just above the 50% mark through most of May.
However sale rates remain down from where they were at the peak of the summer selling season, with closer to three quarters of the properties being offered selling under the hammer in February and March.
Details of the individual properties offered at all of the auctions monitored by interest.co.nz, and the results achieved, are available on our Residential Auction Results page.
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