Auction volumes were up again last week at Ray White New Zealand, with the group scheduling 110 properties to go under the hammer, up 35.8 per cent compared to the same time last year.
Ray White New Zealand recorded a clearance rate of 38.3 per cent last week, reflective of the increased buyer options.
The group recorded good bidder numbers with an average of 2.2 registered bidders and 2.0 active bidders per auction.
“Recent discussions within Ray White’s auction rooms have centred on two main topics: the lack of fresh stock entering the market and the pending OCR announcements,” Ray White New Zealand head auctioneer Sam Steele said.
“Last week, Ray White saw 110 scheduled auctions nationwide, marking a significant 35.8 per cent increase from the same period last year. This increase highlights the market’s desire to defy traditional winter periods and transact with confidence.
“A success rate of 38 per cent and an average of 2.2 registered bidders per auction, indicating that buyers have a wider array of options.
“The efficiency of auctions as a transaction method is further demonstrated by the average days on market, which stood at 30.5 days, compared to 49 days for private treaty sales. “Notably, over a quarter of all Ray White listings last week were auctions, reaffirming owners’ desire and confidence in executing transactions effectively and transparently across all asset classes.”
The top result for the week went to Ray White Grey Lynn agents Scott Wither and Chloe Wither who sold 28 Dickens Street, Grey Lynn, Auckland City under the hammer for $3.37 million. With Ray White New Zealand auctioneer Ben East on the gavel, the auction recorded two registered bidders and two active bidders.
Ms Wither said it was a fantastic auction.
“We had two really motivated buyers and vendors who were prepared to take our lead,” she said.
“The winning bid went to a local family who had been on the hunt for a little while.”
Ms Wither said there had been a shortage of new listings for good quality homes in the area, particularly larger family homes.
“We had 60 groups through this property which was really pleasing,” she said.
“It was a reflection of the fact it was a really good property with a great floorplan which would work well for families, but also that there are motivated buyers in the market with little else to choose from.”
Mr Wither said he was thrilled to welcome the new owners to 28 Dickens Street.
“After an incredibly busy auction campaign resulting in 60 inspections, 10,450 online views and two bidders at auction, this is a great illustration of why selling in isolation and making the most of the winter drought of new listings can be so beneficial and rewarding for sellers,” Mr Wither said.
The auction with the highest number of registered bidders went to Ray White Manurewa agents Phuong Ngyuen and Florence Tran who sold 25 Trevor Hosken Drive, Wiri, Manukau City, under the hammer for $611,000 with 16 registered bidders and 14 active bidders.
“The property needed a lot of work so it was a good property to do up. It was in a good location close to central Manukau,” Ms Nguyen said.
“We had one home buyer bidding, and the rest were investors and builders who wanted to renovate and sell.
“The winning bid went to a local investor/trader.
“The sellers lived there for the past 25 years. I believe they were the second owners since the house was built.”
Media contacts:
Sam Steele
Head Auctioneer
Ray White New Zealand
027 864 3254
ssteele@raywhite.com
Cassandra Glover
Media Advisor
Ray White Group
+61 447 000 472
cglover@raywhite.com