Fewer properties on offer at the latest auctions but not much movement in the sales rate or prices

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.