Ray White New Zealand’s auction clearance rate continues to improve, with the network recording an all sold clearance rate of 53.8 per cent this week, up 5.33 per cent year on year.
Bidder numbers are also on the rise compared to the same time last year, with Ray White New Zealand recording an average of 2.9 registered bidders and 2.4 active bidders per auction last week.
Ray White New Zealand lead auctioneer Sam Steele said auctions continued their steady climb in success and numbers as market forces showed stabilisation and increased confidence.
“Ray White New Zealand conducted 75 auctions with a success rate over 53.8 per cent and an average of 2.9 registered bidders per property showing a 8 per cent increase on the same period last year.
May saw clearance rates over 50 per cent for the first time in over a year, furthering comments from agents that enquiries from buyers are lifting.
“Auction continues to outperform other methods of sale with an average days on market for auction sitting at 36, while private treaty is 48.5 further highlighting that time on market is just as essential when selecting a method of sale.
“With a changing market the ability to secure a sale quickly is just as relevant as the success rate.
“Comments of increased activity from agents, especially first home buyers, compliments the markets desire to transact with the transparency of auction.”
The top result for the week went to Ray White Epsom agents Ross Hawkins and Caleb Rufer, with 204 Remuera Road, Remuera, Auckland City, selling under the hammer for $7.1 million – $1.7 million above its 2021 CV.
With Ray White Epsom CEO and auctioneer Jeff Tubman on the gavel, the property recorded six registered bidders and four active bidders.
“The winning bid went to a local family. They know that it’s a great piece of real estate and they have a long term view with future plans to do some modifications,” Mr Hawkins said.
“The sellers (pictured above with Caleb Rufer and Ross Hawkins) were a couple who had lived there for 33 years and they are downsizing.”
Mr Hawkins said it was the best auction he’d been part of in his 24 year real estate career.
“We had a strong opening bid at $4.2 million and it rapidly went up in $100,000 bids,” he said.
“It really was one of those auctions like before the market went into a downturn.
“Feels like the market is back, but it proves auction is the way to go in any given market.”
The auction with the highest number of bidders last week went to 124 Birkdale Road, Birkdale, North Shore City, which recorded 13 registered bidders and eight active bidders on auction day.
With Ray White auctioneer Tim Obern calling the auction, the three-bedroom home sold under the hammer for $1.11 million.
Ray White Verrans Corner agent David Millington listed the home alongside Ray White Glenfield agent Libby Hilton.
Mr Millington said 12 out of the 13 bidders were first home buyers, with the winning bid going to a first home buyer who had previously missed out on two other homes. The sellers had bought the home 20 years ago, and were upsizing with their two children.
“It was a nice house perfectly suited for first home buyers – it was freehold, flat with a lovely outdoor area,” he said.
“I’m seeing a huge interest in anything for first home buyers at the moment.
“They’re looking for standard solid, dependable houses. This was also in a suburb that’s seen to be achievable.”
Ray White Howick | Half Moon Bay | Bucklands Beach | Pakuranga | Botany | Flat Bush had eight properties go under the hammer at their in-room auctions this week, with Ray White New Zealand auctioneer Ben East on the gavel.
The group recorded an auction day clearance rate of 62.5 per cent, with a total of $7.21 million worth of property selling under the hammer.
The top result from the in-room event came from Ray White Howick agents Dave McCartney and April Fang, with 32 Colum Place, Bucklands Beach, Manukau City, selling under the hammer for $2.15 million.
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Media contacts:
Sam Steele
Lead 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