Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Sharp rise in auction properties foreshadows tough market

Sharp rise in auction properties foreshadows tightening market

AUCKLAND, 4 August 2011 – The number of properties put up for sale by auction has skyrocketed in the last two months, prompted by the drop in inventory of unsold houses.

Data provided by shows that in the months of June and July 2011 the number of auction properties spiked to 1,168 and 1,132 respectively. In a typical month, around 600 properties come onto the market advertised as auction sales.

Alistair Helm, CEO of, says that these figures show dramatically how the New Zealand property market is now trending in favour of sellers, as was indicated by figures in this month’s NZ Property Report.

“When listings are in short supply, as we are seeing at this time, we tend to see a rise in the proportion of properties being marketed as auctions. In absolute terms, these last two months have seen the highest recorded numbers for auction properties looking back over the past four years.”

“This data should be a call to action for potential sellers who can put their homes on the market with confidence that there will be high demand.”

Mr Helm says the spike is even more significant when viewed against the decline in new listings witnessed this year.

“As a percentage, the number of properties brought to the market in June was the highest ever seen at 13% – far outstripping the prior high of 9% back in September and October 2009.”

Mr Helm says the vast majority of properties marketed as auctions are in the Auckland region – in June Auckland accounted for 56% of all of the 1,132 auction properties marketed across the country last month.

For more analysis of this data can be found on, the news and information website for New Zealand real estate.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Tourism: Employers Welcome Back Working Holidaymakers

Tourism businesses gearing up for the return of Australian visitors from next week will be relieved to learn that they will also have access to an offshore pool of much-needed job candidates, Tourism Industry Aotearoa says. Tourism employers around ... More>>

Commerce Commission: Latest Broadband Report Confirms Improved Performance Of Premium Fibre Plans

The latest report from the Commerce Commission’s Measuring Broadband New Zealand programme shows that the performance of Fibre Max plans has improved substantially. This follows a collaboration between the Commission, its independent testing partner, ... More>>

Air New Zealand: Capital Raise Deferred

Air New Zealand has decided to defer its planned capital raise to later in 2021 allowing more time to assess the impacts of recent developments on the airline’s path to recovery. 'We’ve seen some clearing of COVID-19 clouds recently, with ... More>>

Commerce Commission: Cartel Conduct Now Punishable By Up To 7 Years’ Jail Time

Cartel conduct can now be punished with a term of imprisonment of up to 7 years, after the Commerce (Criminalisation of Cartels) Amendment Act 2019 came into effect today. Cartel conduct includes price fixing, market allocation and bid rigging (see ... More>>

Stats NZ: New Report Shows Impact Of Demands On Land In New Zealand

A new environmental report released today by the Ministry for the Environment and Stats NZ, presents new data on New Zealand’s land cover, soil quality, and land fragmentation. The land cover data in the report, Our land 2021 , provides the most ... More>>


Stats NZ: March Card Spending Rebounds Despite COVID

There was a lift in retail card spending in March following a fall in the lockdown-disrupted February month, Stats NZ said today. Seasonally adjusted retail card spending rose by $53 million (0.9 percent), compared with February 2021. Visit our website to read ... More>>

PwC: Outcome Of Review Into Air New Zealand Gas Turbines Business

Air New Zealand has received the report into its Gas Turbines business from independent external advisers PwC. Air New Zealand Chairman Dame Therese Walsh says the report identified a range of effective controls in the Gas Turbines revenue contracting ... More>>