More properties offered at auction last week but the sales rate was stuck on just over a third

There was a jump in the number of homes being auctioned last week although there was little change in the overall sales rate.

Interest.co.nz monitored 185 residential property auctions around the country last week (17-23 September), up from 133 the previous week.

Of those, 66 properties sold under the hammer, giving an overall sales rate of 36%, up slightly from 33% the previous week.

The national auction sales rate seemed to settle at around a third over winter and so far shows no sign of budging from that.

However the pickup in sales last week was nationwide, with nearly all regions posting a boost in auction numbers.

It would be normal to expect a lift in real estate activity over the next couple of months but what that means for sale rates and prices, we will have to wait and see.

With the auction sales rate continuing to hover around a third, it appears buyers are remaining cautious for the time being at least.

Details of the individual properties offered at all of the auctions monitored by interest.co.nz are available on our Residential Auction Results page.  

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