The spring surge in auction activity beat a hasty retreat at the latest auctions, with a sharp decline in the number of properties on offer.
Interest.co.nz monitored the auctions of 275 residential properties around the country over the week of 26 September to 2 October, down by 20% from the week of 19-25 September.
That took auction activity back to its mid-winter lows, which suggests the auction rooms are making a lumpy start to the usually more buoyant spring/summer season.
However, it wasn't all bad news with a modest improvement in the sales rate.
Of the 275 properties on offer at the latest auctions, sales were achieved on 112, giving an overall sales rate of 41%. That's up from 36% in the week of 19-25 September.
Looking ahead, there was a significant increase in new residential listings on Realestate.co.nz in September, which should start flowing through to a higher number of auctions over the next few weeks as those properties' marketing campaigns run their course.
The table below gives the details of the latest auction results by region, while details of the individual properties offered at the latest auctions, including the selling prices of the properties that sold, can be found on our Residential Auction Results page.
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