Ray White New Zealand had 99 auctions scheduled last week, despite the Easter long weekend, recording an all sold clearance rate of 48.4 per cent.
The group recorded an average of 2.0 registered bidders and 1.4 active bidders last week, holding steady compared to this time in 2022.
Ray White New Zealand lead auctioneer Sam Steele said the network enjoyed a prosperous week in the auction space with success rates remaining steady and reports of increased activity from buyers at open homes.
“One third of all listings coming to the market for the week were auctions, further displaying the confidence and security a cash and unconditional offer provides on auction day,” Mr Steele said.
“Despite the challenges currently faced in the market with OCR increases, Ray White auctions provide an effective strategy for our clients to achieve their goals.
“Auction continues to outperform other methods of sale and create competition.”
The top sale of the week went to 22 Santa Cruz Drive, Shamrock Park, Manukau City, which sold under the hammer for $2.6 million.
The property recorded five registered bidders and one active bidder, with the winning bid going to an owner occupier.
The property was marketed by Ray White Howick agents Hara Jeng and Vish Arora on behalf of the sellers, a family who were upsizing.
“This calibre of buyer is still around, there’s still plenty of interest,” Ms Jeng said.
“Due to the current market situation, the sellers who are upgrading are getting the benefits.
“Lots of sellers are worried about the price but if they are selling to upgrade and buy a new home, the margin they are getting is greater.”
The top sale for number of registered bidders this week went to 121 Taipuha Station Road Waipu, Whangarei District, which recorded 15 registered bidders and eight active bidders.
The rural property was marketed as “as is, where is” by Ray White Whangarei agents Zoltan Waxman and Devon Cameron, and sold under the hammer for $397,000.
Despite having no experience selling in the “middle of nowhere”, Mr Waxman said they took on the challenge to help the vendor, who needed to relocate due to health issues. They took on the project site unseen.
“What we have found was a good size, completely neglected land full of gorse; a 1930s built classic bungalow, needing repiling, rewiring, and plenty of imagination; plus a really good relatively new shed,” Mr Waxman said.
“We marketed the property ‘as is, where is’ – we certainly didn’t paint the picture rosier than it was.
“Inquiries started pouring in – we had 30 groups through the property, and buyers from all over New Zealand and as far as Norfolk Island wanted to purchase it.”
The property attracted 15 registered bidders ranging from first home buyers, renovators, and people who just wanted a peaceful country setting.
“To our greatest pleasure, the successful purchaser was a first home buyer, but a builder as his trade,” Mr Waxman said.
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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