This week, the New Zealand real estate auction market showed slight improvement. The number of listings decreased, but the clearance rate improved.
A total of 215 listings were up for auction this week, with auction results collected for 173 listings. Out of these, 75 were successfully auctioned, and 97 were passed in, resulting in a clearance rate of 43%. Compared to last week, the number of listings decreased by 16 (approximately 6.9%); the number of successful auctions increased by 6 (an increase of about 8.7%), and the clearance rate increased by 3 percentage points, indicating a slight increase in market activity.
Performance varied across regions, with significant increases in clearance rates in Auckland North Shore and Auckland East:
- Auckland East's clearance rate increased by 28 percentage points to 64%;
- Auckland North Shore's clearance rate increased by 1 percentage point to 39%.
Auckland Central and Auckland South remained stable, while Auckland West saw a slight decline in the clearance rate by 5 percentage points to 38%.
In terms of price, the main transaction range this week was between $500,000 and $1,000,000, with 18 sales, making it the highest proportion.
The highest sale price of the week was for a property at 1/3 Katui Street in Castor Bay, which sold for $3,375,000.
The median house price for sales this week rose slightly to $1,100,000, and the average sale price increased to $1,144,400, reflecting a higher proportion of high-priced property sales, with market interest focusing on mid-to-high-end properties. (Data for reference only)