• A real estate firm says auction selling rates in Auckland have recovered, after a slump in auction sales late last year.

In December, some real estate firms reported that just 30 percent of houses sold at auction, which analysts put down to fewer investors in the market, following tighter lending and tax rules.

The biggest declines were seen in the $500,000-$750,000 price range

But Barfoot and Thompson managing director Peter Thompson said sales had returned to normal levels, because sellers had scaled back their expectations of price rises, while demand from buyers remained strong.



A potential buyer at a house auction in Manukau, Auckland. Photo: RNZ / Kim Baker Wilson

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