Selling prices appeared particularly weak for central Auckland properties at the latest auctions

The big news on the housing market this week was the release of Auckland Council's latest Rating Valuations (RVs) .

Overall they showed a 9% decline compared to the previous RVs, and in theory, that should have lifted the percentage of homes selling at auction for prices that were as good as or better than their RVs.

However they appear to have made very little difference.

Of the 69 Auckland properties that were sold at the latest auctions monitored by interest.co.nz, just 35% achieved prices that were equal to or greater than their RVs, barely changed from 33% the previous week.

However 35% was the second higher RV/selling price ratio achieved in Auckland so far this year, beaten only by the last week of March when it hit 37%.

However one particular result is worth noting and that is the result for Auckland's Central suburbs, where 24 properties were sold at the latest auctions and none was equal to or above its RV.

Apart from that, auction activity remained pretty flat, with 284 properties offered at the latest auctions, compared to 280 the previous week, while the sales rate edged up slightly from 35% to 39%.

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.