Auction sales rate unchanged at 36% for the last three weeks

Residential auction activity bounces along at winter lows as the market waits for the spring lift

Property / news

Residential auction activity bounces along at winter lows as the market waits for the spring lift

5th Sep 26, 6:00am by Greg Ninness

Residential auction activity continues to bounce around winter lows.

Interest.co.nz monitored the auctions of 258 properties over the week of 29 August to 4 September. That was down from 290 the previous week but up from 214 the week before that.

Auction numbers would need to remain above 300 a week before we could be sure that the usual spring lift was underway, something that occurred in mid-September last year, so it may not be far off.

However, while the number of properties being auctioned goes up and down, the sales rate remains as flat as a pancake, sitting on exactly 36% for the last three weeks.

That suggests a market that's biding its time, as buyers take their time to see how events such as rising interest rates and high stock levels play out.

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.

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1 Comments

by NZGecko | 5th Sep 26, 6:49am 1788547761

Wow, this NZ housing market is sick as an old, worm and lice riddled, dog.

Or perhaps, more existentially dangerious to speculords, as ye olden times influenza wards!

You see, the once wirely and smart Sprucy LL, is now coughing and spluttering in a market that has flipped a complete 180, as a "wise investable"

All the pre 2021 tailwinds, have vanished without trace.

Now the lords of the land, are facing bitterly roaring 40s gusts, with orifice piercing financial hail, making "holding on" near impossible.

As spring will inevitably bring back the 10s of thousands of stale, previous years attempts at sale, meeting the market to just liquidate bad investment calls is about to happen enmasse.

Then at the same time, many thousands of oldies are still rsttling around their 1960s to 1980s unmaintained homes, probably 2 to 4 years past due, when the shouls have moved to the corporate overlords, at the Rymans care homes.

My my, we are about to see this sick housing markets influenza ward, morph into the logical next stage of capitulation and the mortuary chillers.....