It was a quieter week for residential house auctions, with interest.co.nz monitoring 312 over the past week. That was down from 363 the prior week, a 14% dip. Still that was much more than the 208 we monitored in the equivalent week a year ago.
This week we noticed more mortgagee auctions, and they were across most regions.
This week's sales rate came in at 36%, exactly the same as last week. And the proportion of those that sold at or above rating value was also stable at 49%.
Listing remain very high. Realestate.co.nz is currently listing 45,742, TradeMe Property currently lists 49,469, and OneRoof is listing "over 45,000." It is clear that selling by auctions is a small section of the market.
In March, REINZ reported 7853 sales. In April 2025 they dropped 14% seasonally, so we would expect April 2026 total sales to be something like 6700. If it turns out like that, we may end up with April auction activity being less than 10% of all sales in the month.
One third of properties selling under the hammer, with two thirds being passed in or withdrawn, seems to be the new normal nationally, with some regional variations. The table below shows the latest regional results.
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.
| Residential Auction Results | ||||
| at auctions monitored by interest.co.nz | ||||
| April 18 - 24, 2026 | ||||
| District | Total | Sold | % sold | % of selling prices above or equal to their rating valuation |
| Northland | 12 | 2 | 17% | 50% |
| Auckland Region | 178 | 63 | 35% | 44% |
| - Rodney | 12 | 3 | 25% | 100% |
| - North Shore | 31 | 13 | 42% | 54% |
| - Waitakere | 16 | 4 | 25% | 50% |
| - Central Suburbs | 47 | 15 | 32% | 53% |
| - Manukau | 46 | 18 | 39% | 33% |
| - Papakura | 12 | 3 | 25% | 33% |
| - Franklin | 13 | 7 | 54% | 14% |
| - Waiheke Island | 1 | 0 | 0% | 0% |
| Waikato | 17 | 6 | 35% | 83% |
| Coromandel | 9 | 2 | 22% | 0% |
| Bay of Plenty | 29 | 7 | 24% | 14% |
| Gisborne | 23 | 11 | 48% | 64% |
| Hawkes Bay | 4 | 0 | 0% | 0% |
| Central North Island | 5 | 3 | 50% | 0% |
| Marlborough | 3 | 1 | 33% | 0% |
| Canterbury | 25 | 15 | 60% | 67% |
| Otage | 7 | 3 | 43% | 33% |
| All of Aotearoa | 312 | 113 | 36% | 49% |
16 Comments
Looks like the greed index is still 66%. Ticket clippers face another fun year. Unsold stock remains high as does seller delusion. All before swap rates drive rates higher.
As we close in on the election and the talk of capital gains tax increases, will sellers accept market, or remain in lala land?
Concur! A word of warning to those sticky sellers sipping the Treasury cool-aid that this economic recovery is “delayed” (again, again?), rather than derailed. Worth taking a good hard look at what possible green shoots are on the horizon to usher in your dream buyer? It seems we’re closer to the next leg down if anything..
And they say in a declining market that the first offer is often the best offer...
Record number of listings at 50,000, prices into the 4th year of the property crash.
Meanwhile, at this mid crash stage, we have a revisit of the 1970s energy shock and interest rates starting the next sky rocket, mid booster stage burn, into outer space, where no Landlording mole has stepped in decades........
One small step for human kind, a scary trap laden leap for Spruiky.
All we are missing is the flower power and flares.
Already transactions prices are back at 2018 and 2019 REAL levels, soon 2012 to 2015 will be calling us back and saying hi !
Back to the Future is here!
Real Residential Property Prices for New Zealand (QNZR628BIS) | FRED | St. Louis Fed
The next FRED release, will be a dooooossey!!
"Record number of listings at 50,000"
Yet another example of you ranting.
Firstly, 50,000 listings is not a record. During the GFC listings were as high as 60,000 and for most of the three years 2008 to 2010 it was above 50,000.
Secondly, at March 2026 realestate.co.nz, the accepted measure of housing stock on the market, is just under 35,000 .
But hey, credibilty doesnt count as far as you are concerned, so lets not have facts get in the way of your rants.
Cheers
“Record listings” aged badly in about 10 minutes.
Wow, talk some NZ housing market crash truth, chum the waters with record listings and flaccid sales and watch the bewildered walk out of the now tumble weeded, empty seated, property investor seminars..... to mount a "weak as a wet noodle" attack on this article's facts.
INTEREST is one of the more reasonable and honesty aspiring, info sites.
Trademe has the biggest reach for "homes for sale" and is the respected measure of the bulk of home listings, hands down.
TradeMe Property currently lists 49,469...... check the below TM chart from last year and see the listings swelling like a pregnant Beluga and weep quietly.
So we can agree the listings on TM are the biggest in a decade and half - THAT IS A 15 YEAR RECORD ?? or there abouts.
https://www.trademe.co.nz/c/property/news/property-pulse-report-februar…
FACTS are important.
Yet this is the tip of the hidden ICEBERG, tens of thousands have been withdrawn from sale, by equally indignant and bewildered vendors/investors, who still expect financial idiots to be newly minted and to load up on Stupidity Laden Debt at 6x 7x, 8x, 9x, 10x incomes....... Thankfully these idiots are rare as hen's teeth now or been neutered by the "slowly aware of the property bubble/crashing" banks.
Take care buyers and don't offer more than 2015 prices imho, as that is this housing markets crash, Final Destination.
High listings alone dont create 2015 prices. Whats the mechanism from here? Forced selling, unemployment spike, or tighter credit?
Heavy on adjectives, light on data.
I believe what will cause the continued housing deflation, is in fact and juxtaposed by higher inflation of everything else. Exactly as witnessed since the first inflation wave starting in 2021.
This will cause a major rise in mortgage rates, all past 6% soon and coupled increased cost of living, job losses and with still an overpriced market, home prices to fall much further.
The only support, is the long run average of 3 to 4x DTI. The Market bottoms here.
Ok, at least thats a mechanism.
But needing inflation, higher rates, job losses and distressed selling all at once sounds more like a worst case stack than a likely path
To observe where we currently are and where the puck will be in 6 to 12 months and then in 10 years plus is a great skill,
Most cannot even get 1 of the 3 as above, correct.
So firstly,
1. Rising energy costs: TICK.
2. Rising inflation: TICK.
3. Rising interest rates: TICK.
4. Rising job losses: TICK.
5. Rising mortgagee sales: Slowly increasing. Yet tens of thousands of borrowers are being "managed" by our large trading banks. These banks advanced many loans that relied upon none of the above indicators, having TICKS.
They advanced loans, built for the best of times, forever exhuberance and always rising asset prices.
The banks got wickedly greedy.
All the hallmarks of 1929 / 2007-2008 is where we at imho, excepting that our asset valuations, make even less sense!
How much more "kindness" and "forebearance" both IRD and all trading banks have left in their tanks, will be nervously watched by 15 to 25% of our financially stretched and stressed population.
Take care NZ.
1929, GFC, 25% stressed, Take care NZ. Quite the breakfast post 😂
Good Morning Princess.
Whats described above, is where we are at today. Like it or not.
Just as I saw in 2007 and prepared, will determine how we thrive or dive, into the late 2020s.
Its how we are positioned, for what we see comming, "where the puckis going", thats important.
As we are within the K economy and I am on the positive side, no matter what happens going forward, I have no concerns personally and very positive.
However, I am very concerned for friends and family in the middle - lower side of the K. Many have been hoodwinked and stitched up with unpayable debts, on jacked up assets, by all the leeches in the FIRE industrial complex.
Their loans and lives depend on the best of best of times, with little abilty to pivot when the wheels wobble or fall off.
Their is little fat or resilliance in many NZers lives and our Govt is a very poor backstop.......
Good Morning Princess.
Whats described above, is where we are at today. Like it or not.
Just as I saw in 2007 and prepared, will determine how we thrive or dive, into the late 2020s.
Its how we are positioned, for what we see comming, "where the puck is going", thats important.
As we are within the K economy and I am on the positive side, no matter what happens going forward, I have no concerns personally and very positive. Studying financial history and human greed tendencies, has some of us seeing the same movie again, in fact as multiple reruns.....
However, I am very concerned for friends and family in the middle - lower side of the K. Many have been hoodwinked and stitched up with unpayable debts, on jacked up assets, by all the extracting leeches within the FIRE industrial complex.
Their loans and lives depend on the best of best of times, with little abilty to pivot when the wheels wobble or fall off. NZs road ahead looks dicey, with rocks and potholes and no money to pay the oily hotmix bill.
Their is little fat or resilliance in many NZers lives and our Govt is a very poor backstop.......
Bless that pregnant beluga
Amazing what a small edit can do for confidence levels
even the high end is falling see other interest article
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.