There was a good lift in residential properties being offered by auction this past week, up 12% to 274 in the auctions we monitor. That gave an overall sales rate of 47%, down from last week's 54%, and back to winter levels. In Auckland, the proportion selling at or above rating value was only 30%. Canterbury auction levels were stable, but a few more than last week achieved rating values or more. The lift in overall auctions reflects the season with spring traditionally bringing out more property events, more buyers and sellers, and usually more auctions.

Source: Stuff September 15, 2023 22:02 UTC