This week’s auctions were the busiest they have been all year – in spite of the election
See full article from Interest.co.nz:
The pending election did nothing to dampen activity in the auction rooms over the last week, in fact it seemed to have had the opposite effect, with the auction rooms having their busiest week so far this year.
There were 367 properties offered at the residential property auctions monitored by interest.co.nz over the week of 7-13 October, the highest number in any week so far this year.
It was the first time in 2023 more than 300 properties have been offered at the auctions we monitor. The previous busiest week was at the height of the summer season in the last week of March when 294 properties were offered.
The latest auctions also had the highest number of sales achieved so far this year, with 167 properties selling under the hammer, giving an overall sales rate of 46%.
Although the sales rate was not a record, it compared very well with last summer’s auctions when sales rates were typically around a third.
The higher level of activity over the last week was apparent across the country, with all of the areas where auctions are most common – Auckland, Waikato, Bay of Plenty and Canterbury, all showing a strong lift in activity.
The table below shows the regional results from the auctions monitored by interest.co.nz around the country.
Details of the individual properties offered at all of the auctions we monitor, including the selling prices and rating valuations of those that sold, are available on our Residential Auction Results page.
