This week, New Zealand's real estate auction market has cooled down slightly. The number of listings remained roughly stable, but the clearance rate has decreased.
A total of 385 properties were up for auction this week, with results collected for 280 of them. Among these, 91 were successfully sold, 186 went unsold, and the clearance rate was 33%. Compared to last week, the number of auction listings decreased by 1 (approximately 0.3%); the number of successful sales decreased by 45 (down about 33.1%); the clearance rate fell by 8 percentage points, indicating a reduction in market activity.
The performance varied across regions, with significant drops in clearance rates on Auckland's North Shore and Central Auckland:
The clearance rate on Auckland's North Shore dropped by 19 percentage points to 27%;
The clearance rate in Central Auckland decreased by 10 percentage points to 32%.
Auckland's East, West, and South remained relatively stable, and Waiheke Island's clearance rate remained the same, but overall sales were still low.
In terms of prices, the mainstream transaction range this week was between $1 million and $1.5 million, with 20 properties sold, making up the largest proportion.
The highest transaction price this week was for a property at 24 Darwin Lane in Remuera, which sold for $4 million.
The median house price of the properties sold this week dropped to $1,176,750, and the average transaction price fell to $1,087,371, reflecting an increase in the proportion of lower-priced property sales, with market interest focusing on mid to low-end properties. (Data is for reference only)