The number of properties on offer perked up at the latest auctions, although there was no real movement in the sales rate.
Interest.co.nz monitored the auctions of 282 residential properties around the country over the week of 26 July to 1 August, up from 217 the previous week.
That was a return to more normal numbers for the time of year.
Of the 282 properties on offer, 112 sold under the hammer, giving an overall sales rate of 40%.
The sales rate has hovered within a percentage point or two of 40% for the last six weeks, suggesting that may be the new winter norm.
However prices may have been a tad softer, with just under half (49%) of the properties that sold fetching prices equal to or above their rating valuation, down from around 60% over the previous five weeks.
Details of the individual properties offered at all of the auctions monitored by interest.co.nz, including the prices of those that sold, are available on our Residential Auction Results page.
5 Comments
https://www.nzherald.co.nz/nz/house-prices-in-337-auckland-school-zones…
That’s $594,711 higher than the typical cost of a home near a secondary school with a zone located among the least expensive areas.
The new data also shows east Auckland’s Glendowie College has the most expensive zone in the city with a median $1.9m value in 2025.
With 5 years at private school being circa 300k per kid, and the lack of capital gains in the near future how many kids do you need for the premium yo be worth it.
All before you start talking about the better opportunities and education private schools offer.
Glendowie is a great school, many people want their kids to go vs a private model. Has poor sporting opps though IMHO.
The south side of West Tamaki road is 3-400k less then the North side.
Maybe a better idea to chuck that $300k into a trust fund and send them to a normal school! I know lots of kids who went to good schools, weren’t quite good enough to succeed, and now live a normal life battling to save for their own home. I bet they’d prefer that $300k off their mortgage.
I’ve noticed a few “renovators delight” properties come up near us on big sections. A few years ago these would have been snapped up for decent money, but these days there doesn’t seem to be much interest from developers or FHBs and they seem to be going pretty “cheap” (compared to small townhouses with virtually no land). It’s like the land value has reduced significantly, but with high building costs, the building value has increased - assuming the building is in good condition. If it’s in bad condition and not been updated, it’s a lot of money to improve it.
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