The auction rooms were the quietest they have been so far this year in the short week leading up to the Matariki holiday.
Just 232 residential properties were on offer at the auctions monitored by interest.co.nz over the week of 4-9 July, which was the lowest number in any week so far this year.
Cold, wintry conditions, school holidays, a short week before a long weekend, and the Reserve Bank's announcement that it was increasing the OCR, were not a good combination for auction activity.
However there was some good news, with 99 of the 232 properties on offer selling under the hammer, a 10% improvement on the previous week.
That pushed the overall sales rate up to 43% from 34% the previous week.
Just under half of the properties that sold (48%) achieved prices that were equal to or above their respective rating valuations.
Auction activity is generally quieter during school holiday periods so the coming week is also likely to be a bit on the soft side.
The table below shows the latest results from the auctions monitored by interest.co.nz from around the country.
Details of the individual properties offered, including the selling prices achieved for those that sold, are available on our Residential Auction Results page.
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