Ray White New Zealand held 146 auctions last week, up 32.7 per cent year-on-year, with a clearance rate of 48.2 per cent.
The group saw an average of 2.4 registered bidders and 1.8 active bidders per auction.
Properties which sold under the hammer last week received premiums 12.2 per cent higher than the highest offer received prior to auction.
The top auction for the week went to Ray White Mt Eden agent Rachel Berry who sold 16 Johnstone Street, Point Chevalier, Auckland City under the hammer for $4.6 million.The auction recorded a whopping 10 registered bidders and four active bidders.
“The vendors (pictured below) bought it in 2020 and did a massive renovation. They wanted to sell to move closer to their kids’ schools,” Ms Berry said.
“They were really adamant on a deadline sale originally but after the first week on the market we converted it to auction.
“What people said to me was they didn’t realise there were that many unconditional buyers out there at that level.”
Ms Berry said the bidding opened at $4 million.
“It was quite an aggressive opening bid,” she said.
“It had a big, level, lawn with a pool, a good aspect, and it was in a really good location.
“The bulk of the interest was from families with primary school aged kids, and some downsizers.
“The buyers were a family from central Auckland.”
Ms Berry’s 16 Johnstone Street auction was also one of two top results for the highest number of registered bidders. The second auction recording 10 registered bidders was Ray White Manukau agent Jas Sandhu’s auction at 89 Wordsworth Road, Manurewa, Manukau City, which sold under the hammer for $791,000.
Mr Sandhu said it was a very successful auction seeing 66 bids in total with all 10 registered bidders placing a bid.
“Most of the similar properties I’ve sold have sold for around the low $700,000s so this was a really good price considering the market,” he said.
“Interest was from a mix of traders and investors who had been in the market for a while, and with the OCR decline they wanted to jump onboard and secure something before the market picks up.
“The seller was an investor, and the winning bid went to another investor.”
Media contacts:
Sam Steele
Head Auctioneer
Ray White New Zealand
+64 27 864 3254
ssteele@raywhite.com
Cassandra Glover
Media Advisor
Ray White Group
+61 447 000 472
cglover@raywhite.com