Buyers continue to be presented with more options in the property market this year, with Ray White New Zealand scheduling 317 auctions last week, up 93.3 per cent compared to the same time last year.
The group recorded an all sold clearance rate of 52.9 per cent, up 11.1 per cent year-on-year, and had an average of 1.9 registered bidders and 1.6 active bidders per auction.
“Ray White New Zealand celebrated another week of auction triumphs, hosting 317 auctions nationwide, with a success rate of 52.9 per cent,” Ray White New Zealand lead auctioneer Sam Steele said.
“Equally positive was the increase in new listings coming to the market as New Year confidence runs high.
“An average of 1.9 registered bidders per auction further attests to the eagerness of buyers to explore the property options available to them in the wider market and engage in a clear and open process.
“Auctions continue to provide the best outcomes for sellers, with properties sold under the hammer fetching prices an average of 10.6 per cent higher than the highest offer received prior to auction.”
The top result for the week went to Ray White Remuera agent Keith Dowdle who sold 54A Hamilton Road, Herne Bay, under the hammer for $2.88 million. The property had one registered bidder.
Mr Dowdle said the sellers were downsizing in Auckland and then moving out of town and building a new house.
“The buyers are coming from the country and they’re moving back into Auckland to live closer to family,” he said.
“At Hamilton Road we only had 17 groups through which is unusual for a house like that, so we really looked after the buyers who were interested. We only had one bidder on the day, but it only takes one!
“It’s a really tightly held area, people tend to purchase and stay there. Quite a bit of off-market trading happens in the area, so this was quite a unique
Mr Dowdle said the Herne Bay market was performing very differently to the rest of the market.
“What we’re seeing in the Herne Bay market is a chronic shortage of good houses across all price points, this one was more entry level for the area,” he said.
“here’s not enough properties to meet demand, which is the opposite of what’s happening in other markets where we’re seeing a lot more stock come on.”
The auction with the highest number of registered bidders went to Ray White Manukau agent Monika Maynard’s listing at 1/27 Avis Avenue, Papatoetoe, Manukau City, which recorded 12 registered bidders and 10 active bidders (auction room pictured above).
With Ray White auctioneer Sam Steele calling the auction, the property sold under the hammer for $662,000.
Ms Maynard said the seller was an investor from outside Auckland who was selling in order to buy another home elsewhere.
“The buyer was a first home buyer. It was a mix of first home buyers and investors bidding on auction day,” she said.
“It was a nice and tidy, two-bedroom, stand alone with its own garage, and it was on a good street.
We’re definitely still getting buyers, but there’s more properties on the market so we’re not getting people through open homes at the same levels we were before.
“A lot of first home buyers are coming through. I think they’ve realised this is what the market is like now, so they need to buy while they can.
“We’re also seeing a lot more clued-up first home buyers comfortable with buying at auction as well. We’ve sold to a few at auction in the last few weeks.”
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