The residential auction rooms just had their busiest week of the year with 489 properties on offer at the auctions monitored by interest.co.nz over the week of 11-17 November. That was the third week in a row that auction numbers have topped 400, suggesting we could be heading for a busy summer. Unfortunately the increase in properties being offered was not matched by an increase in sales, with 193 properties selling under the hammer, which pushed the overall sales rate down to 39%. Of the properties that did sell, just 38% achieved prices that were equal to or above their rating valuations, which was down from the mid-to-high-40% range over the previous seven weeks. Details of the the individual properties offered at all of the auctions monitored by interest.co.nz, including the selling prices and rating valuations of those that sold, are available on our Residential Auction Results page.

Source: New Zealand Herald November 18, 2023 09:21 UTC