Ray White New Zealand scheduled a whopping 310 auctions last week, up 101.3 per cent year-on-year, with an all sold clearance rate of 44.7 per cent, up 12.7 per cent compared to the same time last year.
The group saw an average of 2.1 registered bidders and 1.7 active bidders per auction last week, with 67.5 per cent of Ray White auctions receiving active bidding.
Auctions continue to provide the best results for vendors, with properties that sold under the hammer last week receiving sale prices 10.5 per cent higher than the highest offer prior to auction.
The top result for the week went to Ray White Remuera agent Steve Koerber who sold 21 Woodley Avenue, Remuera, under the hammer for $3.25 million. With Ray White Remuera auctioneer John Bowring on the gavel, the property attracted two registered bidders.
“The buyers were a family who moved from Wellington and had been renting in the area. They had been looking for several months so they were thrilled with the result,” Mr Koerber said.
“The sellers were a couple of empty nesters who built a new home north of Auckland which was now ready to move into.
“It’s a bit soon to tell what the state of the market is in Remuera at the moment. There haven’t been a lot of high value sales yet this year, but I think in March we will see a bumper month as we’re starting to see those higher value listings come on.”
The property with the highest number of registered bidders was 62 Conway Street, Somerfield, which attracted 13 registered bidders and five active bidders. The property sold under the hammer for $923,000, a great result for the vendor and Ray White Town and Lifestyle marketing agents Mariessa Waddington and Nicola Millar (pictured above with the buyers and sellers).
“It was a phenomenal auction with bidding starting at $800,000,” Ms Waddington said.
“It was a beautifully presented home in a great location.
“The winning bid went to a young couple of first home buyers who I had met a year before when they first started looking. Most of our bidders were younger buyers.
“One of the registered bidders used to own the house and wanted to re-buy it after the renovations had been done. We also had a buyer from Australia who was bidding on the phone and wanted to buy to be closer to his family who had inspected the home for him.
“The sellers bought it as part of the On-Sold program. They put a whole lot of their own money into it as well and did it up. They have now bought a neighbouring property to renovate.”
Ray White Bayfair, Greerton, Mount, Papamoa, Pukehina and Tauranga sold more than $10 million in property at their auction event on Wednesday.
The group sold 11 properties during the auction campaign, with three more properties under contract prior to auction.
The top result of the day went to Ray White Mount Maunganui agent Rose Tondi who sold 67a Pitau Road, Mt Maunganui, Tauranga City, under the hammer for $2.55 million. With Ray White auctioneer Wayne Olver calling the auction, the property attracted two registered bidders.
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