The number of properties offered at auctions remained above 300 last week but there was a drop in the number that sold.
There were 307 residential properties on offer at the auctions monitored by interest.co.nz last week (19-25 November), compared to 316 the previous week.
Of those, 85 sold under the hammer, down from 113 the previous week.
That pushed the overall sales rate down to 28% from 36% the previous week.
Auction activity levels remained high on Auckland's North Shore and in the central suburbs, and Canterbury and the North Shore both had overall sales rates of 37%.
However the overall sales rate was 26% in Auckland and 28% nationally.
With less than four weeks left until the auctions close down for the summer break, the overall tone of the market remains cautious.
Details of the individual properties offered at all of the auctions monitored by interest.co.nz, including the selling prices of those that sold, are available on our Residential Auction Results page.
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