It was no surprise that there was a sharp downturn in activity at the latest residential property auctions, with 398 properties on offer at the auctions monitored by interest.co.nz, compared to 508 the previous week.
Because it was the first week of school holidays and a short week to boot due to the Easter break, this week's numbers were never going to be great and poor weather at the end of the week was the cherry on top.
Although there were fewer properties on offer, there was no change in the sales rate, with 140 properties selling under the hammer, giving an overall sales rate of 35%, unchanged from the previous week.
However the sales rate has been slowly slipping back from this year's high of 41% achieved in mid-February.
Next week's offerings are also likely to be on the low side, with the school holidays continuing and back-to-back long weekends making for a three day working week.
The table below shows the latest results by region while 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.
15 Comments
Just wait, untill the now very suspiciously delayed, new Auckland RVs hit the "dead in the water" property market.......they can only hide the truth, of the massive NZ property price crash for so long!
Exactly what is the Auckland city council financial boffins, so scared of??????
..... - Fully expect most Auckland property to fall in RV by -200,000 to -600,000, from the lunacy 2021 values......especially in rental-land!
Look at this beauty in true price discovery, it's not even in a flood zone, has a good sized full section (for Auck) and sold -12% below its 2017 RV.
https://www.oneroof.co.nz/property/auckland/glen-eden/192-glengarry-roa…
While the old house may have issues, selling at the old price indication of around 10 years ago, is telling in 2025....
Some property ponzi pumpers laughed at me, over the last couple of years, when I warned of prices reverting to 2018 values......now the fool trophy is theirs to hold and own.
Looks like we will see sales in some areas, plumb the depths of 2012 to 2014 pricing, as this once in a lifetime property crash enters its next down leg stage into 2026- 2027.
Great to see the crash most apparent in the cheaper rental areas, dominated by house hoarding landlords, who are quiting this bad investment future, losers game of negative net earnings returns and no CGs.
Lower income home owners are the winners here - and GOOD ON THEM!
That's just great for NZ!
The ole Onefoop toerags, A Churchless, Tones Comb, will be apoplectic, as their well trotted, lifelong (Caaant lose on property maaaate) storylines and home hoard specuvestments, melt like Icarus wings on a hot day.......
Probably not the best example NZGecko.
Not suitable for low-equity first-home buyers.
Calling Construction Experts, Visionaries, and Opportunity Seekers
https://www.barfoot.co.nz/property/residential/waitakere-city/glen-eden…
Seemed like quite a good sale price considering.
Said it had issues Einstein.
Let's see what next door sells for bud.........
Why the disingenuity?
The value of the existing construction is not included in this price
You wrote, "While the old house may have issues..."
Ok sure, it has issues.
What are the odds, a landlord patches up the place on the cheap and lobs tenants in there?
-any neighbours here?
Here's a better example. Sold for 656K, actually went "on the market" at 636k during the B&T auction.
RV 970k
https://www.barfoot.co.nz/property/residential/waitakere-city/new-lynn/…
Yes a fair price I see, again at -12% below the 2017 RV. Were you the lucky? punter?
Isn't it glorious, to have much lower pricing now becoming available for homes, for the average earnings people to buy?
Yeah terrible example...
No comments window in the weekend briefing.
Even the further lowering of the cost of debt can't save the ponzi. Oh... Waiheke will save it #jokes.
https://youtube.com/shorts/oWjOFo6qmq4?si=ukbhVHv5qSMDe1S8
Seems a suitable place for this.
Haha. Yeah...problem is probably worse in Aussie.
Any idea when the delayed Auckland CVs will be out?
This weekends weather has created further delays...
Could be a great question as Mayoral election starts.
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