There was certainly plenty of activity in the auction rooms last week which had their busiest week of the year so far.
Interest.co.nz monitored the auctions of 619 residential properties around the country last week, up from 491 the previous week.
The number of properties that sold under the hammer also took a jump to 212, up from 154 the previous week.
The overall sales rate, which is the per cent of properties auctioned that sell under the hammer, also rose last week but only marginally, rising from 31% to 34%.
So far this year the sales rate has tended to remain a few points either side of 33%, meaning roughly a third of the properties being auctioned are typically selling under the hammer.
Looking at the auction results on an annual basis, interest.co.nz monitored 1851 residential property auctions over the four weeks of 3 February to 1 March this year.
Of those, 636 were sold under the hammer, giving an overall sales rate of 34%.
Comparing that to the equivalent week of last year (4 February to 3 March), when the market was heading into a prolonged slump, just 976 properties were auctioned and 362 were sold under the hammer.
So the market this year is twice as busy as it was a year ago, but the sales rate has declined slightly, from 37% last year to 34% this year.
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