Residential auction activity continued to increase around the country last week as the market shifts into top gear as it heads towards the end of the year.
Interest.co.nz report that they monitored 457 auctions around New Zealand over the week of 2-8 November, up from 428 the previous week.
Of those, 193 properties were sold under the hammer, giving an overall sales rate of 42%, down very slightly from 44% the previous week.
The sales rate appears to have settled in the low 40% range over the last few weeks.
That good news for the vendors (sellers) and shows that good houses with realistic prices are still attracting buyers. It also suggests that buyers need to be ready with their mortgage pre-approved to a level that they are comfortable with.
