Auction rooms have just had their busiest week of the year so far, with interest.co.nz monitoring the auctions of 580 residential properties around the country over the week of 21-27 March.
That was up by 20% from 484 the previous week, and was the most properties offered at the auctions monitored by interest.co.nz since the last week of November.
A likely reason for the late surge in activity is vendors and their agents timing their marketing campaigns and auctions to be over and done with before the short weeks of the Easter break arrive.
However, while there was a big burst in the number of properties on offer, the number being sold wasn't looking so flash.
Of the 580 properties offered at the auctions monitored by interest.co.nz, just 196 sold under the hammer.
That gave an overall sales rate of 34% for the week.
The sales rate has been in a steady decline since it peaked for this year at 45% in mid-February.
If the current trend continues, the sales rate is in danger of falling below a third in the next few weeks.
The current wave of economic uncertainty swirling around the country will not be helping that situation.
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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