This week, New Zealand's real estate auction market has shown a certain degree of activity, with the number of properties slightly decreasing but the clearance rate significantly improving.
There were 197 properties auctioned this week, with results collected for 155 properties. Of these, 68 were successfully auctioned, and 83 were passed in, resulting in a clearance rate of 44%. Compared to last week, the number of properties auctioned decreased by 18 (about 8.4%); the number of successful auctions increased by 17 (an increase of approximately 33.3%); the clearance rate improved by 13 percentage points, indicating a noticeable increase in market activity.
The performance varied significantly across regions, with particularly notable improvements in the clearance rates of Auckland Central and Auckland South:
Auckland Central's clearance rate improved by 19 percentage points, reaching 47%;
Auckland South's clearance rate sharply increased by 25 percentage points, reaching 55%.
In contrast, the clearance rate in Auckland West fell by 7 percentage points to 15%, while there was no significant change in the clearance rates of Auckland North Shore and Auckland East, showing the overall market remains diversified.
In terms of price, the mainstream transaction range this week was $500,000 to $1,000,000, with 23 transactions, making up the largest proportion.
The highest transaction price this week was for a property at 18 Pine Street in Mount Eden, selling for $2,500,000.
The median price of houses sold this week significantly increased to $1,260,000, and the average sale price rose to $1,005,497, reflecting an increased demand for mid to high-priced properties, indicating a trend towards a focus on the mid to high-end property market. (Data for reference only)