Post-election confidence sends clearance rates soaring



The last full week of spring selling season has rounded out with a bang, as Ray White New Zealand scheduled 236 auctions, with an all sold clearance rate of 60.4 per cent, up 17.2 per cent on the same time last year. 

The network recorded an average of 2.3 registered bidders and 1.8 active bidders per auction. 

“An impressive trend persists nationwide as auction numbers and success rates ascend in light of the post-election confidence, boasting a clearance rate of 60.4 per cent in the previous week. This marks a 17.2 per cent increase compared to the corresponding period last year,” Ray White New Zealand lead auctioneer Sam Steele said.

“A total of 146 auctions were conducted, again showcasing a 5 per cent increase, while attracting an average of 2.3 registered bidders. 

“The supremacy of auctions over alternative sales techniques becomes even more evident when examining the average days a property spends on the market: 22 days for auction, in contrast to the 39.5 days for private treaty sales. This juxtaposition between distinct sales methods gains further prominence as the average number of bidders enhances.

“More than a third of all properties brought to the market by Ray White were via auction, at 35.6 per cent, broadcasting the returned confidence in this transparent method of sale.” 

The top sale of the week went to Ray White Pt Chevalier agents Jo de Beer and Lawrence von Sturmer who sold 29 Harbour View Road, Point Chevalier, Auckland City, under the hammer for $4.175 million.

The property attracted five registered bidders on the day, with Mr Steele taking bids from four of them. 

The winning bid went to a local family who were upsizing and fell in love with the area. The sellers were downsizing after it had been their family home for more than 20 years.

“We had lots of young families and professionals interested in the home,” Ms de Beer said. 

“We’re seeing a lot of confidence in the market after the election, there’s a lot more active buyers out there. 

“We’ve certainly noticed an increase in activity since the election.” 

An Epsom home also achieved a fantastic auction result, with a property located at 29 Almorah Road selling under the hammer for $4.05 million, with Ray White auctioneer John Bowring calling the auction. 

The property was marketed by Ray White Orakei agents Bill Meyers and Maree Shaw, attracting three registered bidders and two active bidders. 

The home has been the sellers’ dream family home for many years, but they decided it was time to downsize. 

“The winning bid was a family who were upgrading. They had always wanted to move to the area. There were three streets they would have bought in and this was one of them,” Mr Meyers said. 

“There’s plenty of energy still there but we’re four weeks away from Christmas, so there is some urgency from sellers to get things sold before the holidays. 

“We did nine hours of open home times which we feel brought more people to view the home. Interest was above average with about 50 groups through in three weeks.” 

The property with the highest number of registered bidders was 8 Cicada Place, Hei Hei, Christchurch City, which recorded eight registered bidders and five active bidders, selling under the hammer for $705,000. 

Ray White Metro agents Matt Van Rensberg and Jiby Thomas marketed the property on behalf of the sellers who had lived in the home for seven years and renovated the property, before deciding it was time to move on. 

With Ray White Metro auctioneer Tim McGoldrick on the gavel, the winning bid went to a home buyer. 

“We had 74 groups through throughout the three week campaign, we had a lot of interest from first home buyers,” Mr Van Rensberg said. 

“We’re seeing numbers slowly start to drop off now, but our office sold four out of five auctions last week. 

“Things are still moving but we’re definitely seeing things slowly start to drop off leading up to Christmas.” 

Media contacts: 
Sam Steele 
Lead Auctioneer
Ray White New Zealand
027 864 3254

Cassandra Glover
Media Advisor
Ray White Group
+61 447 000 472