The latest residential property auctions featured a substantial lift in activity, with interest.co.nz monitoring the auctions of 374 properties around the country in the week leading up to the Labour Weekend break.
That was up 16% compared to the previous week, and was the most properties offered at the auctions monitored by interest.co.nz since the beginning of May, suggesting the market is now well and truly hitting its spring stride.
However, while the number of properties being auctioned was well up, there was almost no change in the sales rate at the latest auctions.
Of the 374 properties on offer, sales were achieved on 132, giving an overall sales rate of 35%, barely changed from 34% the previous week.
Although auction activity is on the rise, it remains well down (-23%) compared to where it was a year ago, when 484 properties were on offer at the auctions monitored by interest.co.nz.
Similarly, the 35% sales rate at the latest auctions was well down from the 49% sales rate achieved a year ago.
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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