There has been a drop in auction activity as the housing market descends into the depths of winter although the sales rate remains reasonably flat.
Interest.co.nz monitored the auctions of 232 residential properties over the week of 5-11 July, down from 272 the previous week.
Of the 232 properties on offer, 91 sold under the hammer, giving an overall sales rate of 39%, down just slightly from 41% the previous week.
Of the 47 properties that sold in the Auckland Region, 59% achieved prices that were above or equal to their current rating valuations (RVs).
That seems to be about where the ratio of selling prices to RVs is settling in Auckland, after new, lower rating valuations were released last month.
It also means the selling/price to RV ratio in Auckland is now much closer to the national figure, which was 62% at the latest auctions.
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.
3 Comments
Not roaring yet, but dont despair,
A flicker stirs the heavy air
A market not yet fully run
Still, a hint of rising sun.
First up, or up first? Lookin good out there today
So only a quarter selling above RV (about 60% of the 40% that sell)
Sales always poor in mid winter and school holidays to boot. No conclusions drawn.
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