Just a third of the properties on offer at the latest auctions sold under the hammer
Auction activity continues to decline from its peak, with just a third of the properties on offer selling under the hammer at the latest auctions.
Auction activity appears to have peaked so far this year in the last week of February, when interest co.nz monitored the auctions of 562 residential properties.
That number has steadily declined for the last three weeks, dropping to 484 in the week of 14-20 March.
The number of properties selling under the hammer has followed a similar trend, dropping from 219 in the last week of February to 169 over 14-20 March.
That has pushed the overall sales rate down from 39% to 35% over the same period.
The sales rate has been below 40% for the last five consecutive weeks, after starting this year in the 42% to 45% range.
Details of the individual properties offered at all of the auctions monitored by interest.co.nz, including the selling prices of those that sold, are available on our Residential Auction Results page.
