Surge in auction volume



Ray White’s auctions showcased resilience and momentum last week, with 171 auctions booked nationwide which achieved a 46 per cent all sold success rate. 

These figures represent a substantial 26 per cent surge in auction volume year on year while maintaining a consistent success rate. 

Ray White New Zealand Head Auctioneer Sam Steele said unconditional bidders remained steadfast in their pursuit of properties, with an average of 2.3 registered bidders per auction.

“Notably, the transparency of the auction process enabled buyers to compete and sellers to gauge market value with confidence,” Mr Steele said. 

“As the market adjusts to increased listings numbers, more homeowners are embracing auctions to secure unconditional buyers. 

“Auctions once again demonstrated their efficiency, with properties selling in an average of 28 days compared to 50 days for private treaty sales.”

Ray White Remuera sales agents Caroline Yau and Steve Williams sold the top auction sale last week which was 36A Armadale Road, Remuera, Auckland City which sold for $2.910 million. 

Ms Yau said her sellers were over the moon to achieve such a great result after their four week campaign. 

Ms Yau’s seller expressed her deepest gratitude for their outstanding efforts and dedication in selling her property. “Your hard work and attention to detail truly made all the difference, and I am incredibly grateful for everything you have done. From the very beginning, you provided an honest and realistic appraisal of the property, setting the stage for a successful sale. Your advice and coordination of pre-marketing preparation work, including painting, patch-up work, lighting replacements, landscaping, and staging, were instrumental in showcasing the property in its best light and attracting potential buyers,” the happy seller said.

“I especially appreciated the meticulous weekly reports and up-to-the-minute updates you provided throughout the process. Your attention to detail in all aspects of the sale was evident, and it gave me great confidence that my property was in capable hands.

“Your excellent communication skills and effective management of buyers were key factors in the success of the sale. I was impressed by your willingness to collaborate with other agents and offer them a generous split, a gesture that sets you apart from the rest.”

“My property sold for 14 per cent above the CV price, exceeding all expectations. 

“I would not hesitate to recommend your services to anyone in need of a top-notch real estate team.”

There were almost 100 groups through the property during the campaign. “I was taking people around the clock, it was so active and many people wanted to see it at all different times of day. It’s a wonderful single-level brick house that is walking distance to the top schools,” Ms Yau said.

Ms Yau said there were eight registered bidders who were all local families.“The bidding opened at $2 million and quickly moved up to $2.5 million, and it kept going to $2.75 million when it was called on the market, and it finally sold at $2.910 million. It was one of the best auctions ever. 

“My sellers are now moving to another suburb after being in the home since 2015. “They were so wonderful to work with and so supportive, they listened to all my advice and we replaced LED lights and a lot of their furniture. We transformed their home, and it all helped as we had eight registered bidders which is unusually high in today’s market.”

The auction with the highest number of registered bidders last week was at 14 Newhaven Terrace, Mairaingi Bay, North Shore City. Ray White Mairangi Bay sales agent Ella Bason and Director Shane Coote sold this prime piece of real estate which had been in one family for more than 50 years for $1.996 million under the hammer. 

The property attracted 15 registered bidders and five active bidders after just 14 days on the market.

Ms Bason said there were 12 conjunctional agents plus a lot of developers who were bidding.

“The property was on one of the best streets in Mairangi Bait and just on under 700 sqm. It was a crazy number of bidders and only on the market for 14 days.

“We were all blown away by the auction and it sold for $496,500 over our initial appraisal. “The tenants had been there for more than 27 years and it has been bought by a local developer. We make it easy for other agents to work with us, and of course we know that auctions create competition.” 

Media Contact
Alex Tilbury
Ray White Group
Head of Media & External Relations
+61 413 842 112