The auction sales rate nudged 50% at the country's largest real estate agency's latest weekly auctions, although the number of homes being sold by auction remains low.
Harcourts marketed 77 residential properties throughout the country for sale by auction and achieved sales on 37 of them, giving a sales clearance rate of 48%.
Most of the auctioned properties were in Auckland and Christchurch, with 26 properties marketed for sale by auction in Auckland and sales achieved on 14 of them (54%).
In Christchurch sales were achieved on 16 (47%) of the 34 auctioned properties.
Prices at the Auckland auctions ranged from $680,000 for a four bedroom house at Browns Bay, to $2,125,000 for a five bedroom house at Takapuna.
In Christchurch prices ranged from $232,000 for a redevelopment property sold "as is" in St Albans, to $2,075,000 for a renovated, waterfront house at Sumner.
Photos and prices of the individual properties are available on the Residential Auction Results page (except the results of Waikato auctions, which we were unable to publish due to a technical hitch).
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15 Comments
CJ099, I know it's an astonishing figure, right? Yet here is the link to the story on this very website, just the other day:
How do I break this gently to you Zac??? Did you not look at the graph?? The one that says Auckland September sales volume figures and Sept for Auckland = 1591
Not 5428 which is for the whole of NZ. I know how you feel being a AKL home owner, we completely forget about the rest of NZ and think that Auckland is the center of the universe. There are 16 other regions you know. :)
Oh and by the way; In Auckland auction numbers were down -57%
Take a look at the graph: https://www.interest.co.nz/property/90299/reinzs-national-median-sellin…
Oh come on Zachary you only think of Auckland (More accurately central Auckland)! Why else would yo have mentioned it. :P
Auckland auction numbers were down -57% Now that's a significant number and the punch line. ;)
Humm... Or should the punch line be; the rest of NZ is selling just not Auckland that much.
Don’t forget you can get good sales as the market goes down and that what’s happening . As people drop there prices they find a buyers. It’s the prices you need to watch. Listing will probably go threw the roof in time, sales could still be fear but over time prices, listings and sales and of course auctions will all die off because of the lack of demand . I’m guessing a year from after the election cools off of bigger drops then some years of slow decline to flat. Personally the sooner we get to the bottom the better, I’d start buying at the bottom and I’d guess many others would
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