More Auckland homes appear to be failing at auction, say industry players who suggest new LVR restrictions are doing their job of slowing down city investors. But some firms still report steady sales under the hammer - and say even those homes being passed in are still swiftly finding buyers. This week, interest.co.nz reported that, of 130 Auckland properties auctioned around the city by Barfoot and Thompson last week, an overall 39 per cent sold under the hammer. Mortgage adviser Bruce Patten estimated around half of homes currently going to auction in Auckland were selling. But Rush said activity remained strong at the upper end of the market, above the $1.5 million mark, along with the new build market where the 40 per cent LVR brake didn't apply.

Source: New Zealand Herald October 12, 2016 05:37 UTC