This week, New Zealand's real estate auction market has heated up, with an increase in the number of listings and clearance rates.
A total of 256 properties were auctioned this week, and results were collected for 202 properties, with 105 successfully auctioned, 96 passed in, and a clearance rate of 52%. Compared to last week, the number of properties auctioned increased by 34 (approximately 15.3%); the number of successful auctions rose by 20 (an increase of about 23.5%); and the clearance rate increased by 4 percentage points, indicating a gradual increase in market activity.
The performance varied across regions, with notable growth in clearance rates in Auckland Central and Auckland South:
Auckland Central's clearance rate increased by 7 percentage points, reaching 56%;
Auckland South's clearance rate increased by 20 percentage points, reaching 56%.
Auckland North Shore also saw a slight increase in clearance rate, rising by 5 percentage points to 54%. However, Auckland East and Auckland West experienced a decline in clearance rates, dropping by 5 percentage points and 29 percentage points respectively, indicating weaker market performance. Transaction data for Waiheke Island is yet to be collected, but the improvement is limited.
In terms of prices, the main transaction range this week was between $1 million and $1.5 million, with 41 properties sold, making it the largest proportion.
The highest property sale this week was at 3A Glenbrook Street in Remuera, with a sale price of $5.7 million.
The median sale price for houses this week rose to $1,290,000, and the average sale price increased to $1,335,101, reflecting a higher proportion of transactions for high-value properties, concentrating market interest on mid- to high-end properties. (Data is for reference only)