This week, New Zealand's real estate auction market shows dynamism, with both the number of listings and clearance rates on an upward trend.
This week, a total of 352 properties were up for auction, with auction results collected for 285 properties, among which 114 were successfully auctioned, and 166 were unsold, resulting in a clearance rate of 40%. Compared to last week, the number of properties on auction increased by 124 (approximately a 54.4% increase); the number of successful auctions increased by 53 (approximately an 86.9% increase); the clearance rate improved by 5 percentage points, indicating a significant increase in market activity.
There are differences in performance across regions, with Auckland Central and Auckland North Shore showing the most significant clearance rate growth:
Auckland Central's clearance rate increased by 11 percentage points to 43%;
Auckland North Shore's clearance rate increased by 8 percentage points to 37%.
In contrast, Auckland East and Auckland West both saw declines in clearance rates, with Auckland East dropping 10 percentage points to 33% and Auckland West dropping 11 percentage points to 33%. Auckland South's clearance rate rose by 7 percentage points to 46%, while Waiheke Island exhibited a 100% clearance rate this week, although with a smaller sample size.
Price-wise, the mainstream transaction range this week was between $1,000,000 and $1,500,000, with 36 transactions, making it the largest proportion. The highest transaction price was for properties at 76 & 76A Lucerne Road in Remuera, reaching $6.6 million.
The median sale price of homes this week slightly rose to $1,250,000, with the average sale price increasing to $1,283,791, reflecting increased demand for mid-to-high-end properties and an overall shift in market enthusiasm towards higher-priced homes. (Data is for reference only)