Auction room activity ticked up a bit compared to the previous week at the latest auctions round the country monitored by Interest.co.nz. Interest.co.nz monitored the auctions of 265 residential properties throughout Aotearoa over the week of 20-26 July, up from 212 the previous week. Sales were also higher with 90 properties selling under the hammer, giving an overall sales rate of 34%. That was up from 31% the previous week, and was the highest sales rate since mid-March. However even with that improvement in activity, the total numbers of the properties being offered at auction and the number being sold under the hammer are both very low, and the overall picture they paint is of auction activity bouncing along the winter bottom.

Source: Stuff July 27, 2024 10:41 UTC