Ray White New Zealand saw 268 properties scheduled to go to auction during the last week of summer, with a 57.2 per cent clearance rate.
Buyers were out in force at auctions last week with an average of 3.3 registered bidders and 2.6 active bidders per auction.
“As the nation rebounds from last week’s OCR announcement, market activity and engagement have returned with renewed strength,” Ray White New Zealand head auctioneer Sam Steele said.
“Growing public confidence and rising inventory levels have created remarkable momentum for Ray White’s auctions. Over the past week, activity has surged, with auction volumes steadily increasing following a series of major events.
Across New Zealand, Ray White conducted 268 scheduled auctions in the last seven days, with a clearance rate of 57.2 per cent, reflecting both an expanding pool of available properties and greater opportunities for buyers. Buyer engagement has also strengthened, with an average of 3.3 registered bidders per auction.
“Numerous mega auction events across South Auckland and Bay of Plenty lead the charge with more than 80 properties being auctioned in specially organised events,
“Selecting the right method of sale remains crucial, and auctions continue to lead the way. This underscores the importance of choosing a strategy that maximizes success in today’s competitive market.
“Our sales teams report a shift in buyer sentiment, with many sensing the end of the ‘buyer’s market’ and acting swiftly to secure properties. The transparency and competitive nature of auctions are increasingly valued, fostering strong outcomes and greater consumer confidence.
“Ray White New Zealand’s commitment to the auction process reinforces our leadership, driving engagement and trust as we enter the traditional market cycle.”
The top result for the week went to Ray White Grey Lynn agents Chloe Wither and Scott Wither who sold 3 Sherwood Avenue, Grey Lynn, Auckland City under the hammer for $3.55 million. With Ray White New Zealand auctioneer Ben East on the gavel, the property recorded four register bidders and three active bidders.
“It was the sellers’ family home but they are relocating to be closer to family.” Ms Wither said.
“The buyers were a family who already lived in the neighbourhood but were upsizing.
“Buyers loved the aspect and flow and connection of the home. There were four really good sized bedrooms, two living rooms, and two bathrooms. It ticked most boxes for a variety of buyers in the market.”
The auction with the highest number of bidders went to Ray White Manukau agents Karlen Athnaeil and Rubal Singh who recorded 33 registered bidders at their 60a Alfriston Road, Manurewa auction. The auction was action packed with 39 bids over four minutes before it eventually sold under the hammer for $621,000.
The auction was part of Ray White Manukau, Manurewa, Mangere and Mangere Bridge’s auction event The Day 8.0 which saw 33 properties go under the hammer, with $19 million in property sold.
Ray White Manukau, Manurewa, Mangere and Mangere Bridge director Tom Rawson said they saw plenty of activity on the auction room floor.
“Having 265 registered bidders and a 69 per cent clearance rate proves that auctions deliver,” Mr Rawson said.
“The competition in the room was electric, and our sellers saw the results.”
Media contacts:
Sam Steele
Head Auctioneer
Ray White New Zealand
+64 27 864 3254
ssteele@raywhite.com
Cassandra Glover
Senior Media Advisor
Ray White Group
+61 447 000 472
cglover@raywhite.com