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.
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7 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.
Has anyone seen the colourful NZGecko. No doubt he/she is scheming up more slick lines than a Frenchman dancing off the back of an AB scrum.
You can always tell when the property stats are improving... There seems to be an inverse relationship between the number of comments and the positivity of the results
Hes in the same place all the specuboomers have been with bad news. So...where is that?
Somewhere far away near the Costa del Sol?
Don't worry, the Gecko is always on the tree of life, chasing down tasty bugs.
These weak auction results and prices continually plumbing lower, will be having speculators throw in the towel, or their banks making them do so.
So once the much lower RVs came out, I was fully expecting 80%+ of sales thereafter, to exceed the new, lower RVs.
But no, the price collapse has escalated further in 2025 and the market bottom is still well down, further within the markets plumbing. So, the further down the gurgler the housing price market goes, slapping the bare bottom - is still some years off.
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