Ray White New Zealand scheduled 148 auctions to go under the hammer last week, up 8 per cent year-on-year.
The network recorded a clearance rate of 41.7 per cent, with an average of 2.1 registered bidders and 1.8 active bidders per auction.
“Last week’s Ray White auctions showcased notable resilience in a market that continues to surprise and impress,” Ray White New Zealand head auctioneer Sam Steele said.
“The 92 auctions held nationwide showed strong volume while a 41.7 per cent success rate highlights buyers’ continued choice.
“Unconditional bidders displayed unwavering commitment in their pursuit of properties, with an average of 2.1 registered bidders per auction.
“The transparent nature of the auction process allowed buyers to compete openly and provided sellers with a reliable gauge of market value.
“As the market adapts to the ever changing stock levels, more homeowners are turning to auctions to attract unconditional buyers with more than a third of all properties going to auction.
“The efficiency of auctions was once again highlighted, with auction properties selling in an average of 27 days compared to private treaty’s 48 days.”
The top result for the week went to Ray White Mt Albert agent Emma Duncan who sold 3 Fergusson Avenue, Sandringham, Auckland City, under the hammer for $2.45 million.
“The vendors were a family who were wanting to downsize, while the buyers were a family who had been looking for a fabulous home which they have now bought,” Ms Duncan said.
The auction with the highest number of registered bidders was at 1/30 Roberts Road,
Glenfield, North Shore City, which Ray White Beach Haven agents Regan Golding and David Smith sold under the hammer for $1.055 million, with 14 registered bidders and 11 active.
“It was a beautiful property in a great location, so it attracted a lot of interest, predominantly from first home buyers,” Ms Golding said.
“We had 111 groups through the open homes and 14 registered bidders on auction day.
“It was the sellers’ first home and they moved out a few years ago to upsize, but they weren’t quite ready to part with it and decided to lease it out. They decided it was now time to move on.
“It was bought by a very excited couple of first home buyers.”
Media contacts:
Sam Steele
Head 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