More properties on offer at the latest auctions but fewer selling under the hammer

It was an interesting week in the auction rooms around the country, with more properties on offer but fewer selling under the hammer.

A total of 286 residential properties were on offer at the residential property auctions monitored by interest.co.nz in the week of 6-12 September.

That was up from 261 the previous week, and was the most properties offered at the monitored auctions in any week since the end of May.

However sales headed in the opposite direction.

Of the 286 properties on offer, 111 sold under the hammer, down from 117 the previous week.

That pushed the sales down to 39%, which was the lowest it has been for over a month.

There was also a dip in the percentage of sales that fetched prices equal to or above their rating valuation. This dropped to 56%, the lowest it has been and the first time it has been below 60%, in the last five weeks.

So overall, there was an increase in auction room activity but results were slightly softer.

Details of the individual properties offered at all of the auctions monitored by interest.co.nz including the prices achieved for those that sold, are available on our Residential Auction Results page.