Activity and engagement returns to the market

Ray White New Zealand has seen a strong start to the auction year, with 230 auctions scheduled to go under the hammer last week.

The group recorded a clearance rate of 52.9 per cent, with an average of 2.3 registered bidders and 1.8 active bidders per auction.

“As the nation returns from its summer slumber it is evident that both activity and engagement from the market has returned to strong levels,” Ray White New Zealand head auctioneer Sam Steele said.

“Increasing public confidence and rising inventory levels have created remarkable momentum for Ray White’s auctions. Over the past week, we observed a surge in activity, with auction volumes climbing steadily after a series of major events.

“Across New Zealand, Ray White saw 230 scheduled auctions last week, reflecting a 65.5 per cent, increase in volume and a 52.9 per cent clearance rate, highlighting the expanding stock of available properties and greater options for buyers. With an average of 2.3 registered bidders per auction, buyer engagement has seen a notable rise.

“Choosing the right method of sale remains crucial, and auctions continue to outperform. This highlights the advantage of selecting the optimal approach in today’s competitive market.

“Our sales teams report a shift in buyer sentiment, with many sensing the end of the ‘buyer’s market’ and acting quickly to secure properties.

“The transparency and competition of auctions are increasingly appreciated, fostering positive outcomes and heightened consumer confidence. Ray White New Zealand’s emphasis on auctions underscores our leadership in this method, driving engagement and trust as we enter the traditional market cycle.”

The top result for the week went to Ray White Orewa agents Zoe Turner and Dylan Turner who sold 2c/381 Hibiscus Coast Highway, Orewa, under the hammer for $4.9 million.

“The seller had relocated to Thailand so decided to sell,” Ms Turner said.

“The property was bought by a couple of retirees moving for the lifestyle from their family home of 35 years.

“Most of our interest came from buyers looking for a lock-and-leave, low-maintenance type home.

“It was in a great location right on the beach and it was really a maintenance home. It was one of two single-level units in the complex, the rest were apartments.”

The auction was part of Ray White’s North Shore auction showcase The Event, which saw almost $22 million in property sold on the day.

The Event also saw the top result for the week for number of registered bidders, with the auction for 2/31 Park Rise, Campbells Bay, recording 14 registered bidders before selling under the hammer for $1.765 million.

Another stand out result from The Event went to Ray White Milford agent Paul Foster and Michelle Campbell who sold 15A Kyle Road, Greenhithe, under the hammer for $1.29 million with nine registered bidders and four active bidders.

Ray White North Shore zone chair and Ray White Milford and Mairangi Bay business owner Shane Coote said The Event saw some great successes.

“The biggest win was all of our offices working together for this auction event and showcasing the best the Northshore has to offer,” Mr Coote said.

“We got 87 new listings in the first week of January, which was a great start to the year for Ray White in our area. There was a sea of yellow sign boards.

“Our auction room was full, we had lots of bidders with some auctions with 14 and 12 bidders.”