The number of residential properties being brought to auction has declined for three weeks in a row while the percentage of properties selling under the hammer has increased slightly over the same period.
Auction numbers have been steadily declining since the week of 14-20 May when interest.co.nz monitored the auctions of 258 residential properties around New Zealand.
Those numbers have declined every week since, and last week (4-10 June) interest.co.nz monitored the auctions of 203 properties, a decline of 21% from three weeks earlier.
But over the same period the percentage of properties sold under the hammer has increased slightly to 31% from 27%.
In the districts where at least 10 property auctions were monitored last week, the sales rates ranged from 15% for properties in Manukau and the North Shore in Auckland, to 60% in Canterbury.
The overall sales rate in the Auckland region was 26% last week, up from 23% the previous week.
Details of the individual properties offered at all of the auctions monitored by interest.co.nz and the results achieved, including the selling prices of those that sold under the hammer, are available on our Residential Auction Results page.
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11 Comments
Same old question... has the sale success rate increased because the vendor lowered their price expectation?
31% of little is very little.
How is North Shore 13%?
Hold on……. Central Auckland is 26 percent - and that’s despite all the pesky little apartments.
Things aren’t nearly as bad as the Doom Goblins here try to make out.
TTP
"Could be worse", this post is a classic. Never knew "If you don't have anything nice to say, don't say anything at all" could be used as a sales pitch.
The CBD shoebox apartments are making up a very small percentage of auctions at the moment. Most of the auctions we've monitored in Central Auckland have been suburban homes.
You are embarassing yourself.
Southland absolutely on fire.
Great comment, it made me laugh out loud - hard to beat 100%!
On the sold/total numbers given North shore should be 37.5%
The local Harcourt's has resorted to advertising their clearance rate as something like '70% of auctions with bidders sold'.
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