Auctions popular in brisk market

By Anne Gibson NZ Herald

Nearly 40 per cent of properties sold in Auckland last month went by auction, Real Estate Institute figures show.

Of all dwellings sold in Auckland in May, 38.1 per cent went under the hammer – an increase of 10.5 per cent from the same month last year.

Nationally, 1567 dwellings sold by auction last month, representing 20.3 per cent of all sales and becoming the second-highest number of auction sales ever in a month.

Harcourts northern regional manager Josephine Kinsella said sellers were wising up on the benefits of auctions – higher prices with less fuss.

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