Residential auction activity remains at its annual low point

School holiday weeks in the middle of winter are never a great time to be auctioning a property, as the latest results confirm. Interest.co.nz monitored the auctions of just 234 residential properties over the week of 11-17 July, which was just two more than the previous week's record low for this year so far. The sales rate wasn't great either just managing to creep above a third, with 79 properties sold under the hammer, giving an overall sales rate of 34%. Of the 79 properties that sold under the hammer, 59% achieved prices that were above or at least equal to their respective rating valuations. So all in all, it was almost as dreary inside the auction rooms over the last couple of weeks as the weather was on the outside. 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.