There was a pick up in activity at the latest auctions monitored by interest.co.nz, with more properties on offer and more selling under the hammer. Of those, 76 sold under the hammer giving an overall sales rate of 43%, compared to 40% the previous week. Similarly, the number of sales that achieved prices above or equal to their rating valuations increased slightly to 26%, up from 19% the previous week. The biggest improvement in the sales rate at the latest auctions was in Auckland, which had an overall sales rate of 51%, with only two districts - Rodney and Franklin - where the number of sales under the hammer failed to pass the halfway mark. Conversely, activity was unusually subdued in Canterbury where the sales rate was just 16%.

Source: New Zealand Herald June 17, 2023 02:07 UTC