Bidder numbers continue to grow at Ray White New Zealand auctions as buyers turn to this method of sale for its transparency.
Ray White New Zealand had an average of 3.2 registered bidders and 2.5 at its 141 auctions last week.
The group recorded an all sold clearance rate of 50.5 per cent, up 10.72 per cent year on year.
Vendors who chose to take their property to auction received an average sale price 18.2 per cent higher than the highest offer prior.
Ray White New Zealand lead auctioneer Sam Steele said there was plenty of auction activity across the country last week.
“An increasing number of active campaigns across the country last week culminated in competitive auctions with a 50.5 per cent success rate observed,” Mr Steele said.
“Multiple auctions reported double digit bidder registrations furthering agents comments of a lift in buyer enquiry and open home attendees.
“An average of 3.5 registered bidders across the country is close to a 15 per cent increase as buyers see opportunity in the market that has eluded them for some months.
“Auction continues to outperform other methods of sale with an average of 42 days on market for auction versus 65 for private treaty.
“First home buyers also make their comeback to the market with agents commenting on noticeable increase in buyers making their first step into the property market and a single auction property reporting nine registrations from first home buyers.”
The top result of the week went to 11 Elimar Drive, Sunnyhills, Manukau City (pictured below), which sold under the hammer for $2.82 million, a fantastic result for the vendors and Ray White Howick listing agent Jon Jaksic.
The property attracted two registered bidders and two active bidders on the day, with Ray White New Zealand auctioneer Ben East calling the auction.
The sellers were a couple who are downsizing after living in the home for 22 years.
The property offered a granny flat which attracted good interest from buyers looking for multi-generational living.
“The buyers were a family who bought it for the multi-generational aspect.
“The home was on a tightly held tree lined cul-de-sac, beautifully presented with manicured gardens and elevated views”
“A well-presented home will always attract good interest.”
Mr Jaksic was also the listing agent for 11 The Crest, Sunnyhills, Manukau City which recorded the second highest result last week. The property sold under the hammer for $2.6 million, with three registered bidders and three active bidders competing for the property.
The sellers were a family moving back towards the city.
“They moved out to Sunnyhills to be closer to Saint Kentigern College. Their children have finished their education so the timing is right to return to the central suburbs,” Mr Jaksic said.
“The buyers were a young family who wanted a house with a pool and the convenience of being a stone’s throw from Sunnyhills Primary School was a real bonus. They also liked the move-in ready aspect of the home.
“With the unknown cost of renovations, people want those move-in ready propositions.
“Both homes were beautifully presented, you couldn’t fault them.”
A property at 19A Puriri Avenue, Greenlane, Auckland City, attracted the most registered bidders last week, recording 15 registered bidders and nine active bidders.
With Ray White New Zealand lead auctioneer Sam Steele on the gavel, the home sold under the hammer for $2.11 million, well over its $1.975 million CV.
Ray White Parnell listing agent Dean Tuffley said the auction was full of action.
“It was amazing, the auction room was hive of active activity, it was really exciting,” Mr Tuffley said.
The sellers were the original owners who had decided to downsize and move outside central Auckland.
The winning bid went to a local couple of owner occupiers.
Mr Tuffley said the five bedroom home was a very classic home which is what attracted so many buyers.
“It was a very safe, honest, purchase,” he said.
“It was a low maintenance brick and weatherboard home.
“We had over 100 groups through the open home which was fantastic.”
Mr Tuffley said he was definitely seeing more activity in the market with more buyers through open homes and bidders at auctions.
“Interest rates are going to peak soon before coming back down, and people want to lock in the purchase price now. Rates may change but that purchase price will stay the same,” he said.
“They want to get in now before the market starts to take off again, and we feel that’s going to happen soon.”
Ray White Wellington City and Lower Hutt had six properties go under the hammer at their in-room event on Friday. Four out of six sold under the hammer, with Ray White New Zealand auctioneer Ben East calling the auctions.
“There were six properties up for auction and an average of four bidders per auction under pinned the success rate,” Mr East said.
“The auction room was packed with people and the energy was electric.”
The top result of the day went to Ray White Wellington City agents Ben Stevens and Kartjana Anderson, with 15 Bendigo Grove, Newlands, selling under the hammer for $1,290,500 with six 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