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.
3 Comments
Good to see volumes up, I was under the impression all the buyers had vanished months ago...
34% clearance with a rising supply looks more like a market doing its thing than falling apart.
Oh well, should be some creative interpretations coming along soon...
Oh well, should be some creative interpretations coming along soon...
We already have one in your comment - can't beat those mental gymnastics
Good Hollywood take, on these increasingly sickening sales stats Wellywood.........
Peak season has been demoralising, for those tens of thosamds trying to quit property.
It is incredibly troubling to be holding property, especially with the dysfunctions at all levels in the Wgtn region.
Have you considered taking refuge elswhere? Many are reported to be be fleeing and seeking refugee status elswhere, especially once the new, hefty water bills arrive.......
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