The barometer in the real estate auction rooms turned from chilly to frosty at the latest auctions, with the number of properties on offer sinking to a three year low.
Just 199 residential properties were offered at the auctions monitored by interest.co.nz over the week of 18-24 July. That's the first time it has been below 200 this year and was the lowest number in any week excluding the Christmas break, since August 2023.
Of the 199 properties on offer, 86 sold under the hammer, giving an overall sales rate of 43%, which of course means 57% were passed in, hopefully to find a buyer in post-auction negotiations.
The latest Orders of Sale to arrive at interest.co.nz suggest auction numbers could pick up a bit next week, although with winter's grip not loosening yet and economic uncertainty at every turn, any meaningful improvement could still be some way off.
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 results by district.
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