More properties were on offer at the latest residential auctions but fewer were sold under the hammer.
A total of 517 residential properties were up for grabs at the auctions monitored by interest.co.nz over the week of 6-12 December, up from 486 the previous week but down from 599 the week before that.
Of the 517 properties on offer, 197 sold under the hammer, giving an overall sales rate of 38%, the lowest sales rate since mid-August.
Although the decline in the sales rate was not huge, it does suggest buyers are remaining cautious. That feeling would likely have been reinforced by news this week that some banks have started raising mortgage rates.
It will be interesting to see whether that quieter tone to proceedings carries into the auction rooms over the next week and a bit before the market goes into hibernation for the Christmas/new year break.
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.
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.