There was a big jump in activity at the latest residential property auctions as the market builds up speed for summer, but the sales rate remained as flat as a pancake.
Interest.co.nz monitored 416 residential auctions around the country over the week of 31 January to 5 February, compared to 253 in all of January, and 326 in the final full week before the Christmas break.
Of the 416 properties on offer at the latest auctions, 176 sold under the hammer, giving an overall sales rate of 42%, barely changed from 43% in January.
A sales rate of 42% would have been in the mid-range of results for the final months of last year, suggesting there's been little change in buyer sentiment since then.
It is likely the number of properties being offered at auction will continue to build over the next few weeks as the market gears up towards its summer peak.
The table below shows results from the auctions monitored around the country. Details of the individual properties offered, including the selling prices of those that sold, are available on our Residential Auction Results page.
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