Less than 300 properties offered at the latest auctions around the country for the second week in a row but the sales rate edged up to just over a third

They were singing the winter blues at the latest residential property auctions with activity levels remaining at a very low level.

Interest.co.nz monitored the auctions of 296 residential properties around the country over the week of 6-12 June, which was the second week in a row that fewer than 300 properties have been on offer at the auctions we follow.

Of those, 111 properties were sold under the hammer, giving an overall sales rate of 38%. That at least pushed it back up over a third, compared to the 32% sales rate over the week of  May 30 to June 5.

If auction activity follows its normal seasonal trend, it should continue to slowly weaken over the next couple of months before bottoming out around mid-August, then pick again with the arrival of spring in September.

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.