Exactly a third of the properties on offer sold under the hammer at the latest auctions

Auction room activity was reasonably steady over the last week of autumn, with the numbers down just slightly from the previous week.

Interest.co.nz monitored the auctions of 340 residential properties around the country over the week of 23-29 May, down a fraction from 345 the previous week.

Of the 340 properties on offer, 112 sold under the hammer, giving an overall sales rate of 33%, also down slightly from 37% the previous week.

Just over half (53%) the properties that sold achieved prices at least equal to or greater than their corresponding rating valuation. 

That selling price-to-valuation ratio has remained within the 53% to 56% range for the last five weeks, but is down from the summer months of February/March when it was in the 60% to 70% range. That suggests prices have become slightly softer over the last couple of months.

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.

The table below shows the latest auction results by region/district.