Most real estate agencies continued to conduct property auctions last week although they were conducted entirely online because of the Level 4 lockdown restrictions.
Although the move to Level 4 saw many vendors postpone scheduled auctions, online bidding was brisk on those properties that did go under the hammer.
Most agencies introduced online auctions after the country first went into Level 4 lockdown last year, which minimised disruption to scheduled auction activity this time around.
However there are still strict restrictions around some activities such as face-to-face meetings and open homes, and agency branch offices remain closed.
At Auckland's largest real estate agency, Barfoot & Thompson, 123 residential properties were auctioned online last week (14-20 August), down from 164 the previous week.
Potential buyers did not appear to be deterred by the online-only format and sales were achieved on 85 properties last week compared with 101 the week before that.
That meant the overall sales rate increased to 69% last week compared to 62% the previous week.
There was good bidding on properties throughout Auckland, with the sales rates ranging from 58% for properties in Manukau to 89% in Rodney (see the table below for the district-by-district sales results).
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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|Barfoot & Thompson Residential Auction Results|
|14 - 20 August 2021|
|District||Sold||Not Sold||Total||% Sold|
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