There was a sharp drop in the number of properties on offer at the latest auctions, suggesting the market may already have passed its pre-Christmas peak.
Interest.co.nz monitored the auctions of 486 residential properties around the country over the week of 29 November to 5 December, down from 599 the previous week and 532 the week before that.
Although the number of properties offered at the latest auctions was well down form the previous two weeks, they only dropped back to where they were in mid-October, so were still within the early summer selling season range.
Of the 486 properties on offer at the latest auctions, 206 sold under the hammer, giving an overall sales rate of 42%, which was well within the sales rate range of 39-44% that has prevailed since mid-August, suggesting very little change in buyer sentiment over that period.
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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