Ray White New Zealand scheduled 122 auctions last week, down 27.8 per cent year-on-year, but up slightly on the week prior.
The group recorded a healthy clearance rate of 53.4 per cent, with an average of 2.4 registered bidders and 1.9 active bidders per auction.
Auction is still the preferred method of sale for our vendors, with those who sold their properties under the hammer receiving premiums an average of 11.7 per cent higher than the highest offer received prior to auction.
The top result for the week went to Ray White Wanaka agent Jo Seddon, who sold 78 Lakeview Terrace, Lake Hawea, Queenstown Lakes District under the hammer for $2.6 million. With Ray White Wanaka auctioneer Duncan Good on the gavel, the auction recorded four registered bidders and two active bidders.
Ms Seddon said the seller had owned the property for more than a decade, and the home was completely original.
“People were looking at the underlying land value and the potential with it. It was a unique site with the size, being immediate lake front, the views, and the fact that it only had a small original cottage onsite,” Ms Sedon said.
“The winning bidder was a family looking to build a holiday home there. All the bidders were families looking to build holiday homes.”
The auction with the highest number of bidders went to Ray White Mt Roskill agents Damon Pooley and Maggie Liu who sold 274B Balmoral Road, Sandringham, Auckland City under the hammer for $1.153 million, with eight registered bidders and five active bidders. Ray White auctioneer Cameron Brain called the auction.
After 90 bids on auction day, Mr Pooley said the winning bidder went to an owner occupier.
“It’s a lovely art deco style which was beautifully presented. The owner has owned it since 1999 and has meticulously cared for it. It had beautiful fruit trees out the back and a lovely office above the garage for the work from home option. It was in a very good location as well here in Sandringham,” he said.
““With our strategy for selling property we don’t try to identify a buyer, every person who comes through the property will be asked if they’d like to make an offer, that way you scoop the biggest buyer pool.
“We had investors, first home buyers, downsizers, a full range of interest.”
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