Ray White New Zealand scheduled 221 properties to go under the hammer last week, recording a clearance rate of 59.4 per cent.
The network saw an average of 2.4 registered bidders and 1.8 active bidders per auction.
“Public confidence and a forever growing sense of activity have been key fixtures in Ray White’s auctions across the country this week,” Ray White New Zealand head auctioneer Sam Steele said.
“The number of scheduled auctions forthcoming into the pre-Christmas market is enjoying its annual spike and already exceeded last year by a lift of close to 20 per cent..
“Ray White conducted 141 auctions nationwide over the past seven days with a success rate of 59.4 per cent. While an average of 2.4 registered bidders displays the keenness of buyers to participate. However, auctions that secured four or more registered bidders enjoyed success rates over 83 per cent..
“The diversity of auction as a successful method of sale was shown across all asset classes with price ranges from $102,000 to $5.53 million achieved.
“Further, auction displayed its undeniable position as the most successful method of sale in the marketplace with auction properties selling in an average of 28 days while private treaty sales sold in 42 days on average.”
The top auction for the week went to Ray White Parnell’s John Quiambao who sold 13 Ferryhill Road, Epsom, Auckland City, under the hammer for $5.53 million. With Mr Steele on the gavel, the property recorded three registered bidders and two active bidders.
Mr Quiambao said the buyers were a local family.
“The seller was a flipper who bought the property in 2022 and fully rebuilt the home – 95 per cent of the house is brand new,” he said.
“The buyers were attracted to the detail, the position of the house, the location, and the school zone was a factor as well.
“The quality and the details were really thought through, there was no stone left unturned.”
The auction with the highest number of registered bidders went to Ray White Sandringham agent Tracey Potter who recorded 16 registered bidders and 13 active bidders at her 312 Sandringham Road, Sandringham, Auckland City, auction. With Ray White auctioneer Cameron Brain calling the auction, the property sold under the hammer for $1.7 million.
Ms Potter said the sellers had owned the property for 30 years and hadn’t done much with it.
“It was a total do up, but it was zoned for terraces and apartments and it was on a full section with services connected,” she said.
“It was mostly a combination of flippers and developers interested, but we had a few home buyers who wanted to buy it to live in.
“The winning bid actually went to another Ray White agent bidding on behalf of their buyer.”
In Wellington, Ray White’s in-room auctions saw nine properties go under the hammer with a 66.7 per cent clearance rate. Ray White New Zealand auctioneer Ben East called the auctions, with the standout result going to Ray White Wellington City agent Ben Stevens who sold 97 Cashmere Avenue under the hammer for $1.375 million with 14 registered bidders.
Media contacts:
Sam Steele
Head Auctioneer
Ray White New Zealand
+64 27 864 3254
ssteele@raywhite.com
Cassandra Glover
Senior Media Advisor
Ray White Group
+61 447 000 472
cglover@raywhite.com