It was another quiet week in the auctions rooms, with interest co.nz monitoring the auctions of 238 residential properties around the country, just two more than the previous week.
Those figures suggest auction activity may have hit its winter low point, with activity subdued throughout the country.
Of the 238 properties offered at the latest auctions, 89 sold under the hammer, giving an overall sales rate of 37%, which was the lowest it has been in the last eight weeks when it has tended to hover around the 40% mark.
There was no sign of any serious movement in prices, with exactly 60% of the properties that sold achieving prices that were higher than or equal to their rating valuations, which was within a point or two of where it's been for the last couple of months.
These latest figures suggest the market is at a seasonal low, but apart form that don't reveal any major movements in the market either way.
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.
The table below shows the regional results.
5 Comments
Why people get talked in "price by speculation" time wasting, and auction campaigns in a declining market just baffles me. Only serves the agency's interest by generating more fees for them, costs for you, and burns time as price drops further.
In the late 90s slump I noticed the houses that were for auction inevitably sold and the ones that weren't didn't. Around my area of auckland. Have been a fan of auctions since then.
People go to auction for price discovery and eventually price certainty.
People use other methods for best price
Different level of urgency and therefore sell-through rate
I like selling at auction with reserve but not buying, sold at auction in Oct 2021 , very happy with the crazy bidding.
A course for a horse I guess
Right now an auction will give you better then a mortgagee sale if you will not let people through etc...
I suggest many are "urgent" sales
Is that the time when you sold your property for $4k per sqm, yeah we know
Btw, what did it originally cost, I'm picking you'll say it cost pennies?
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