Auction numbers and sales rates are holding steady during real estate’s peak selling season

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Sales were achieved on just under 40% of the properties at residential auctions monitored by interest.co.nz in the week from 4-10 March.

Of the 320 auctions monitored during the week, sales were achieved on 122, giving an overall sales clearance rate of 38%.

Of the properties that sold, 89 were able to be matched up with their rating valuations (RVs) and of those, 43 sold for more than their RV, 44 sold for less that their RV and two sold for the same as their RV.

Most of the activity was concentrated in Auckland where interest.co.nz monitored 237 auctions. Of these 94 resulted in a sale, giving an overall sales clearance rate of 39.7%, which was just slightly ahead of the national average.

The results suggest auction room activity has remained relatively stable through the peak selling season, with little change in either auction numbers or sales rates over the last few weeks.

However prices appeared to be softer in Auckland where 39% of the properties that sold went for more than their RV, compared to 48% nationally.

Auction results for individual properties are available on our Residential Auction Results page.

Recent results include auctions held in Northland, Auckland, Waikato, Bay of Plenty, Hawke’s Bay, Taupo, Marlborough, Christchurch and Invercargill.

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