PHOTO: Auctions | FILE
October saw 23.4% of all properties sold by auction in October, with 2,068 properties selling under the hammer – up from 15.0% at the same time last year, when 1,062 properties were sold via auction and up from 16.2% in September this year. This was the highest percentage of auctions the country has seen in 49 months (since September 2016).
Gisborne had the highest percentage of auctions across the country with 74.6% (47 properties) sold under the hammer, up from 40.9% (18 properties) in October 2019, but down from the record 75.0% in September.
Auckland had the second highest percentage of auctions in New Zealand with 40.6% of properties (1,276 properties) sold under the hammer up from 26.6% at the same time last year (553 properties). This was the highest percentage of properties sold by auction in Auckland in 47 months (November 2016).
In third place was Bay of Plenty with 30.6% (176 properties) sold under the hammer up from 18.2% in October 2019 (99 properties). This was the highest percentage of auctions in 47 months (November 2016).
Also of note, was Canterbury and Wellington with 20.4% and 7.9% of properties sold under the hammer respectively – which were the highest percentage of auctions in 47 and 35 months respectively.
SOURCE: REINZ PRESS RELEASE
