Auction activity cooled off a bit over the last week, with 270 residential properties on offer at the auctions monitored by interest.co.nz between 27 September and 3 October.
That was down from 306 the previous week and 375 the week before that, taking auction activity back to mid-winter levels.
School holidays likely had a hand in the low numbers. If that was the case we should start to see things picking again over the next few weeks.
Of the 270 properties on offer at the latest auctions, 113 sold under the hammer, giving an overall sales rate of 42%, well within the range of where it has been for the last two to three months.
Similarly, 64% of the properties that sold at auction achieved prices equal to or above their rating valuation, about in the middle of its recent range.
So overall there was less activity at the latest auctions, but there appeared to be no significant movement in market sentiment.
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 comment stream on this article is now closed.
16 Comments
What auction wisdoms and insights will be proferred or countered this weekend I wonder
Looking at results for old stamping ground Glendowie, the best of the best are selling, the rest not so much, nothing with sea views asking 5mil, all inland nice pools modern warm etc
Average passes in. Sales across suburb are up, but most being sold have been held for a long time unlocking equity gains. If you bought in last 6-7 years you have not gained enough yet to take the next step up?
https://www.youtube.com/watch?v=4IihsPhVd7c
Australian housing crash 2025 explained: Top Economist warns
Explains it well. Ponzinomics is great until the next sucker is constrained by financial reality...like we have today.
If you ever wondered who your agent works for you or the buyer... you are wrong... they work for themselves!!!!
https://www.oneroof.co.nz/news/real-estate-couples-next-big-move-why-th…
shameless self promotion here.
It's very dependent on whether it's a buyers or sellers market, you definitely need to have your wits about you. If you're desperate for a sale don't become dog tucker
Don't lose you job. Then toping up assets as values decline becomes real fun. Negative leverage.
Not just a thing in text books...
Personally I don't have an employer, self employed work finds me!!
Of course, you probably dont employ anyone either. It is just all about you me ol boomer bean.
How do you spell narrasist again.
Bullshit abounds, in eloquent sounds
Slump and dump...
The Ponzi scheme of NZ housing is completely buggered.
It is not responding like it has in the past, to the lowering of mortgage rates. The resuscitation attempts is getting zero response, the carcass is not moving.
The 40 year -property bull run ended dead, cold, early 2022.
Those still holding investment housing, the bag is yours and its rotting. The 40 years of the "pass the parcel" jig game, is up.
https://www.oneroof.co.nz/news/hold-on-interest-rates-could-drop-to-3-9…
Low rates again, savers complain.
If borrowers rejoice, we'll go insane
I do not think these cuts counterbalance
- rates increases
- falling rents
- prices still very high... therefore yields still low
- differed maintenance in lots of stock
- no development potential for a lot of property
investors cannot make sense of things
not interested
Rather doomie gloomie perspective ITG, I'm intrigued by your claim there is no development potential for a lot of property and what you mean by that.
Auckland has plan change 120 which goes hell for leather. Hamilton had PC12 which has added new central city residential zoning areas and height limits. Wellington and Christchurch too
On a smaller scale there will be the granny flat exemptions to resource and building consents soon
Not ar all. Would be wise to use the again debasement of debt to reduce debt. Vs going all in leveraging up again.
Time will tell.
Development is slated mostly around train/bus hubs not places like Manurewa where there are a lot of 800sq m sites, watercare says no, not enough stormwater or sewage treatment, pipes to small in current roads for sites to end up with 3 townhouses on them...
Investers don't see how to make an exit plan here, so many are not entering
We welcome your comments below. If you are not already registered, please register to comment.
Remember we welcome robust, respectful and insightful debate. We don't welcome abusive or defamatory comments and will de-register those repeatedly making such comments. Our current comment policy is here.