Auction activity remains fairly steady around the country, with interest.co.nz monitoring 272 residential property auctions over the week of June 28 to July 4, up from 262 the previous week.
Sales were also reasonably steady with 112 properties selling under the hammer, giving an overall sales rate of 41%, up from 39% the previous week.
We continue to see more of the properties that sell achieving prices that are at least equal to their corresponding rating valuation (RV), with 60% of sales hitting their RVs at the latest auctions, up from around a third a month ago.
That increase is largely due to Auckland Council releasing new RVs which were on average 9% lower than their previous RVs, meaning more sales would make their RVs even if there was no improvement in the actual prices achieved.
A highlight of the latest auctions was the 70% sales rate achieved in Canterbury, which was the highest it has been since February last year.
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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