Auctions are go!30 Sep 2020

It’s rare to hear of thriving areas of industry during these unprecedented times we are in, yet Harcourts auctions across most of the country are smashing records.

Auctions were used in 16.1% of all sales across the country in August, with 1,232 properties selling under the hammer – up from 10.6% at the same time last year, when 650 properties were sold via auction. This was the highest percentage of auctions for the month of August in 4 years. Gisborne had the highest percentage of auctions across the country with 51.4% (19 properties) sold under the hammer, up from 31.5% (17 properties) in August 2019. Auckland had the second highest percentage of auctions in New Zealand with 31.0% of properties (811 properties) sold under the hammer up from 18.3% at the same time last year (332 properties). This was the highest percentage of auctions Auckland has seen for 5 months. In third place was Bay of Plenty with 17.5% (90 properties) sold under the hammer up from 13.2% in August 2019 (63 properties).

This was the highest percentage of auctions for the month of August in 3 years. With some of the finest and most experienced auctioneers in New Zealand, it’s no wonder Harcourts are seeing such fantastic results for our vendors.

This article is featured in Harcourts' Property Focus Issue 5, 2020.