There was a slight improvement in the number of homes sold at auction in July compared to a year ago

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Photo: Alpha Stock Images – http://alphastockimages.com/

Auckland’s real estate market may be struggling through a sluggish winter, but activity in the region’s auction rooms appears to be holding up reasonably well compared to a year ago.

In the four weeks from 30 June to 28 July this year, interest.co.nz monitored 503 Auckland residential property auctions and published their results on our Residential Auction Results page.

Of those 211 were sold and 292 were not sold, giving an overall sales rate of 42%.

Comparing that to the equivalent four week period a year ago (1-29 July 2017), interest.co.nz monitored 526 auctions (after making a small adjustment to allow for a minor change in the way the data was collected), of which 211 resulted in sales and 292 properties remained unsold.

So although the number of properties going to auction over the four weeks of July this year was down slightly (-4.4%) compared to a year earlier, the number of properties that were sold was up 5.5% and the ratio of auctioned properties that sold increased from 38% to 42%.

That suggests overall activity at Auckland’s mid-winter auctions this year was probably at about the same level as last year, with a small improvement in the number of properties being sold.

The individual results from many of the auctions held around the country, with details of the properties auctioned and the prices achieved on most of those that sold, are available on our Residential Auction Results page.

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