Ray White New Zealand’s auction volumes remained high last week, even with Thursday’s ANZAC day public holiday, with the group scheduling 229 properties to go under the hammer, up 148.9 per cent on the same time last year.
Clearance rates and bidder numbers are holding steady, with Ray White New Zealand recording a 43.2 per cent clearance rate, with an average of 1.8 registered bidders per auction.
“Ray White’s recent auction events showcased resilience and momentum, featuring 140 auctions conducted nationwide in the last seven days, achieving a success rate of 43.2 per cent,” Ray White New Zealand lead auctioneer Sam Steele said.
“These figures represent a significant 79.5 per cent surge in auction activity while maintaining a consistent success rate.
“Unconditional bidders displayed unwavering commitment to their purchases, as reflected in an average of 1.8 registered bidders per auction.
“Notably, auctions with four or more registered bidders had an impressive 73 per cent or higher chance of successful sale under the hammer.
“This underscores how the transparent auction process fosters competition among buyers and enables property owners to ascertain market value confidently.
“As the market adjusts to increased listings, more homeowners are embracing auctions to identify and secure unconditional buyers, with over a third of all properties brought to the market by Ray White being auctioned, underscoring the advantages of this approach among homeowners.
“Auctions once again outpaced other sale methods in terms of time on market, with auction properties selling in an average of 22 days compared to 47.5 days for private treaty sales.”
The top result for the week went to Ray White Kohimarama agent Pauline Brown, who sold 36A Rawhitiroa Road, Kohimarama, Auckland City, under the hammer for $2.802 million. With Ray White business owner and auctioneer Wayne Maguire on the gavel, the auction recorded five registered bidders and five active bidders.
Ms Brown said the home attracted a lot of interest with 50 groups through the open homes and 12 private inspections.
“I had five registered bidders and the eventual buyer only came in after it was announced on the market. It was announced on the market at $2.705 million,” Ms Brown said.
“The buyer had a house on the market in Swanson and he and his partner intend to move in.
“Most of our interested buyers were families. There were a family from Nelson who were the underbidders.
“I sold this home to the sellers brand new 19 and a half years ago. They were moving out of Auckland to be closer to family.
“They kept the home immaculate and updated over the year, and it had beautiful gardens.”
The auction with the highest number of registered bidders went to Ray White One Tree Hill agents Ben Bibby and Martin Honey, who recorded 10 registered bidders and six active bidders at their auction for 5A Ewenson Avenue, One Tree Hill, Auckland City. With Ray White auctioneer John Bowring calling the auction, the property sold under the hammer for $1.392 million, $42,000 over the CV.
Mr Bibby said the home received a lot of interest with 57 groups through throughout the campaign.
“For quality homes like this the buyers are there and we’ve had some great results at auction,” Mr Bibby said.
“Only about one in 20 homes in the area have four bedrooms, so that was definitely an attraction for a lot of buyers, plus it was in a nice location.
“The winning bid went to a family who intend to move in.”
Another fantastic result for the week went to Ray White Manukau agent Monika Maynard who sold 26 Michael Bosher Way, Flat Bush, Manukau City, under the hammer for $2.78 million. Mr Steele called the auction, with five registered bidders and three active bidders.
Ms Maynard said it was a unique 518sqm house on 5,400sqm section.
“The interest was really good, with around 20 groups through over the three week campaign,” she said.
“We had one buyer who came through at the beginning with a conditional offer, then came through with a second unconditional offer – that was the buyer who landed the winning bid.
“They were a family and the daughter wanted a house with a princess tower. The buyer’s brother also lived just around the corner, so he wanted to be closer to him and his family.
“The sellers were a family who bought the home three years ago and then made a decision to move into the city. They’ve purchased some land and are building a home.”
Ray White Manukau, Manurewa, Mangere and Mangere Bridge have their next mega auction event, ‘The Day 4.0’, coming up on May 1, with 40 properties going up under the hammer.
Media contacts:
Sam Steele
Lead 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