92 per cent clearance rate shows strength in South Auckland market

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With a 92 per cent clearance rate, Ray White Manurewa | Manukau | Mangere Bridge | Mangere had huge success during their auction event on Tuesday, selling $31,434,000 in property under the hammer. 

Twenty-three of 25 properties sold under the hammer, which Ray White New Zealand Lead Auctioneer Sam Steele said showed the strength of the South Auckland market. 

“Ray White Manurewa | Manukau | Mangere Bridge | Mangere continues to set the standard for auctions with another stunning display of expertise and professionalism,” Mr Steele said. 

“Twenty-three out of 25 properties sold under the hammer with not only incredible bidding but prices to match. 

“A highlight was certainly Ray White Mangere agent William Vaea’s standout auction at 41 Ashgrove Road, Mangere, selling for $2,013,000, with over 100 bids, broadcasting the resilience and continued confidence in the South Auckland market.” 

The top price of the evening went to a waterside property in Wai O Taiki Bay for $3,000,000. 

Located at 29 Silverton Avenue, the property sold for $1,500,000 above CV — a great result for the vendors and Ray White Mangere listing agent Bob Lemalu. 

The 1037sqm property received 13 registered bidders and 10 active bidders at auction, with strong developer interest. 

The winning bid went to a local developer. 

“The location was fantastic, there’s water views and nice walking tracks,” Mr Lemalu said. 

“It’s an up and coming area here in Auckland. 

“The size of the land for development potential is what attracted a lot of buyers.” 

Mr Lemalu said the neighbouring suburb Glen Innes had been re-worked in recent years and had lot of state development in the works

“On this side towards the water there’s not as much development but it’s more residential and private development,” he said. 

“It hasn’t taken off yet, but I think this is a sign of things to come.”

The property at 41 Ashgrove Road (pictured above), sold for $1,193,000 above CV — a fantastic result for the vendors and Mr Vaea. 

The 804sqm property received a huge amount of interest with 13 registered bidders and 13 active bidders at auction, and a total of 101 bids. 

The winning bid went to an investor who plans to hold the property. 

Ray White Manurewa | Manukau | Mangere Bridge | Mangere principal Tom Rawson said competition had been fierce across the board.

“An apparent renewed interest in all types of property was evident last night with fierce competition for cross-lease ‘do-ups’ right through the property spectrum to desirable development sites,” Mr Rawson said. 

“With so many buyers fighting for the keys, we expect interest in our next auction offerings to be just as competitive.”