There was an overall sales rate of almost 40% at the latest residential property auctions monitored by interest.co.nz.
Interest.co.nz monitored 152 auctions around the country in the week from 14-20 July and sales were achieved on 58 of them, giving an overall clearance rate of 38%.
An interesting aspect of the market at the moment is that while the number of properties being offered at auction has declined over the winter months, the sales rate has remained remarkably stable.
Three months ago in the week from 14-20 April, interest.co.nz monitored 229 auctions, of which sales were achieved on 86, also giving an overall sales rate of 38%.
So while the number of properties being offered at auction has declined by a third over the last three months, the sales ratio has remained the same at 38%.
In the latest batch of auctions, prices ranged from $240,000 for a three bedroom house at Linwood in Christchurch that was in need of complete renovation or demolition and was sold on an "as is," basis, to $2.506 million for a four bedroom villa with a swimming pool in Remuera, Auckland.
Details of properties from all of the auctions monitored by interest.co.nz and the prices achieved on most of those that sold are available on our Residential Auction Results page.
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