The New Zealand real estate auction market was slightly active this week, with an increase in the number of listings and clearance rates.
A total of 345 properties were auctioned this week, with results for 303 properties collected. Out of these, 150 were successfully auctioned, and 152 were unsold, resulting in a clearance rate of 50%. Compared to last week, there was an increase of 69 properties (approximately 25%) in the number of auction listings this week; the number of successful auctions grew by 35 (an increase of approximately 30.4%); and the clearance rate increased by 2 percentage points, indicating a gradual rise in market activity.
There was a significant divergence in performance across regions, with noticeable increases in the clearance rates for Auckland North Shore, Auckland West, and Auckland Central:
- Auckland North Shore's clearance rate rose by 13 percentage points to 55%;
- Auckland West's clearance rate rose by 13 percentage points to 59%;
- Although Auckland Central's clearance rate slightly decreased to 51%, both the number of auctions and successful sales increased;
Auckland East's clearance rate dropped by 9 percentage points to only 34%, showing relatively weak market performance. Auckland South's clearance rate remained nearly unchanged, slightly declining to 43%, while the Waiheke Island market had very few properties participating in auctions and showed stable performance.
In terms of prices, the mainstream transaction price range this week was $1 million to $1.5 million, with 32 transactions, accounting for the largest proportion. The highest transaction price this week was for a property at 18 Westbourne Road, Remuera, at $5.16 million. The median price of houses sold this week slightly increased to $1,255,250, and the average transaction price rose to $1,284,719, reflecting an increase in the proportion of high-priced property sales, with market interest concentrating on mid- to high-end properties. (Data for reference only)