The group saw an average of two registered bidders and 1.4 active bidders per auction.
“As the weather cools nationwide, Ray White's auctions have remained steady in light of high stock levels and interest rate fluctuations,” Ray White New Zealand head auctioneer Sam Steele said.
“A growing sense of public confidence has underpinned exceptional performance in Ray White’s auction campaigns.
“Over the past week Ray White saw 127 scheduled auctions across New Zealand, achieving a clearance rate of 43.2 per cent. This reflects not only an expanding selection of properties but also increasing opportunities for buyers. Engagement continues to rise, with an average of two registered bidders per auction.
“In today’s evolving environment, selecting the right method of sale is more important than ever. Auctions remain a highly effective strategy, especially as buyer sentiment shifts—with many now anticipating the end of the prolonged ‘buyer’s market.’ Auctions saw an average of 39 days on market compared to private treaty's 58 days.
“Motivated purchasers are acting decisively, drawn by the transparency and competitiveness that auctions provide—qualities that continue to inspire strong results and bolster confidence across the board. 75 per cent of our auction buyers last week with owner-occupiers, 18 per cent investors and 7 per cent 'unknown' showing a healthy return of the investment market.
“Ray White New Zealand’s steadfast commitment to the auction process reinforces our position as market leaders, 31 per cent of all properties nationwide brought to the market by Ray White were via auction. Fostering trust and driving engagement as we move through the traditional real estate cycle.”
The top result for the week went to Ray White Grey Lynn agents Chloe Wither and Scott Wither, who sold 9 Warwick Avenue, Westmere, Auckland City, under the hammer for $2.65 million. With Ray White auctioneer Ben East on the gavel, the property recorded two registered bidders.
“The property had a slightly bigger footprint across one-level than you typically find in the area,” Ms Wither said.
“The sellers had been there 20 years and found some flexibility with two separate living areas. They did an extension at the rear in 2017 to create the second living space and a master space which opened out onto the garden.
“The buyer was a lady who purchased the home due to the multiple living spaces and the ability to have family come and stay.
“The quality of the buyers we saw through the property were really good, although there weren't a lot. But at the moment, when buyers see a property they like, they seem more prepared to make decisions and transact.”
