The auction room was pumping at Ray White Wellington City today.
More than $5 million worth of property changed hands, with bidding on everything and five out of six properties sold under the hammer.
There was a full buffet of properties on offer from first homes and investments right through to the high end.
Ray White New Zealand auctioneer Ben East said buyers were definitely taking confidence in the transparent method of sale which was a welcomed change from the veiled approach of Tender or Deadline.
“Vendors were able to make informed decisions by witnessing the market and what it was prepared to pay prior to selling.”
The Ray White group fundamentally believes the auction method is the best and most proven way to maximise competition for our customers.
Auctions create an equal playing field as the date and time is set and every bidder is there with their finances approved.
From a seller point of view, auctions provide more opportunities to get a premium price as it opens it up to a competitive environment and all sales are also unconditional.
Ray White Wellington City agents Ben and Amanda Stevens and their team boast an average of 33 days on market over the past six months, compared to 62 days across the entire capital.
“Our success in 2023 is down to our auction strategy. Auctions provide transparency and confidence to buyers who can see the competition in the room. They are given unlimited opportunity to revise their offer by way of bids right up to their maximum. You can see that from the bidding on each property today. In some cases up to 21! There’s no doubt that auctions provide social proof to buyers,” Mrs Stevens said.
“Wellington’s real estate market has been very tough for the last year and buyers were not responding to private negotiations so it was time to try a different approach.
“Our success to date proves that auction was the right choice. We are excited to be able to use Auction as a strategy moving forward as we truly believe it is the best approach for both our vendors and buyers. “
Here’s a breakdown of today’s successful auction sales at Ray White Wellington City.
49a Ganges Road Khandallah, Wellington City
- Sold under the hammer for $1.7250 million
- 4 registered, 3 active bidders
- Ray White Wellington City lead agent Ben Stevens +64 21 899 851
1 Regal Gardens Melrose, Wellington City
- Sold under the hammer for $1,060,000
- 6 registered bidders, 2 active
- Ray White Wellington City lead agent Ben Atwill +6421 826 024
41 Red Beech Avenue Woodridge, Wellington City
- Sold under the hammer for $1.302 million
- 5 registered and 5 active bidders
- Ray White Wellington City lead agent Kartjana Anderson +64 27 643 7799 and Ben Stevens +64 21 899 851
2C Black Rock Road Newlands, Wellington City
- Sold under the hammer for $610,000
- 8 registered bidders, 2 active
- Ray White Wellington City lead agent Ben Atwill +6421 826 024
40/305 Evans Bay Parade Hataitai, Wellington City
- Sold under the hammer for $430,000
- 5 registered bidders, 5 active bidders
- Ray White Wellington City lead agent Ben Atwill +6421 826 024
About Ray White
Ray White is a household name in Australasia, synonymous with the property and real estate industry. The White family owned and led property giant, established in 1902 in regional Australia, has 1,000 franchised offices across Australia and New Zealand. The group, with more than 11,000 members, sold more than 77,000 properties last financial year worth well in excess of $75 billion in sales value. The group’s scale and geographic presence across Australasia, and the fact it attracts the top performers in each market, is its advantage. Led by Dan White, the group spans residential, commercial and rural property as well as hotels, marine, property management and a leading property funds investment and advisory. The market leader called 37,500 auctions across Australasia last year. The group has trademarked the term ‘competition creators’ as it firmly believes in the power of the open and transparent method of sale.