The number of properties being auctioned continues to grow but the sales rate eased back last week.
Interest.co.nz monitored 441 residential property auctions over the week from February 26 to March 4, which was the highest number in any week so far this year.
That is not surprising, with March usually being the busiest month of the year for residential property sales.
Of the 441 properties marketed for sale by auction, sales were achieved on 148, giving an overall sales rate across the entire country of 34%.
Canterbury remains the most buoyant region for auction sales with a sales rate of 66%, with sales being harder to achieve in the rest of the country.
After Canterbury the next highest sales rate was Rodney in the north of Auckland on 46%, followed by Waikato and Bay of Plenty which were both on 39%.
Auckland remains the area with the highest level of auction activity, but it is also the region which has had the biggest decline in sales under the hammer over the last few weeks, with an overall sales rate of just 27% at the latest auctions.
The table below shows the sales rates in the main areas of auction activity around New Zealand.
Interest.co.nz also monitored auctions in Taranaki, Hawke's Bay, Gisborne and Taupo last week although their numbers were too low to provide meaningful statistical data.
Details of all of the individual 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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