{"id":563531,"date":"2026-08-09T06:56:30","date_gmt":"2026-08-09T06:56:30","guid":{"rendered":"https:\/\/www.newsbeep.com\/nz\/563531\/"},"modified":"2026-08-09T06:56:30","modified_gmt":"2026-08-09T06:56:30","slug":"residential-auctions-activity-slumps-to-a-three-year-low","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/nz\/563531\/","title":{"rendered":"Residential auctions activity slumps to a three year low"},"content":{"rendered":"

Residential auction activity sank to a three year low at the beginning of August.<\/p>\n

Interest.co.nz monitored the auctions of 197 residential properties over the week of 1-7 August.<\/p>\n

That was down from 246 the previous week (-20%), and was also the lowest number of auctions recorded by interest.co.nz since August 2023, apart from the Christmas\/New Year holiday periods when the market goes into hibernation.<\/p>\n

The number of properties being auctioned has now declined by almost two thirds since the summer peak in late March.<\/p>\n

Of the 197 properties on offer at the latest auctions, 89 sold under the hammer, giving an overall sales rate of 45%.<\/p>\n

There is no shortage of reasons from the winter slump, with morning frosts, icy roads and a good dumping of snow in many places over the last week.<\/p>\n

On top of that buyers are facing rising mortgage interest rates and general economic uncertainty ahead of the General Election in November.<\/p>\n

While fewer properties are being brought to auction, there are still plenty of properties available for sale<\/a>, so buyers\u00a0 are being cautious on price and are taking their time making decisions, while vendors have to bite the bullet if they want to achieve a sale.<\/p>\n

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.<\/a><\/p>\n

<\/p>\n

\"\"<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Residential auction activity sank to a three year low at the beginning of August. Interest.co.nz monitored the auctions…\n","protected":false},"author":2,"featured_media":563532,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[138,111,139,69],"class_list":["post-563531","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-business","tag-new-zealand","tag-newzealand","tag-nz"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/563531","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=563531"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/563531\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/563532"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=563531"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=563531"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=563531"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}