Auction results show confidence following OCR decrease

Ray White New Zealand held 146 auctions last week, up 32.7 per cent year-on-year, with a clearance rate of 48.2 per cent.

The group saw an average of 2.4 registered bidders and 1.8 active bidders per auction.

Properties which sold under the hammer last week received premiums 12.2 per cent higher than the highest offer received prior to auction.

The top auction for the week went to Ray White Mt Eden agent Rachel Berry who sold 16 Johnstone Street, Point Chevalier, Auckland City under the hammer for $4.6 million.The auction recorded a whopping 10 registered bidders and four active bidders.

“The vendors (pictured below) bought it in 2020 and did a massive renovation. They wanted to sell to move closer to their kids’ schools,” Ms Berry said.

“They were really adamant on a deadline sale originally but after the first week on the market we converted it to auction.

“What people said to me was they didn’t realise there were that many unconditional buyers out there at that level.”

Ms Berry said the bidding opened at $4 million.

“It was quite an aggressive opening bid,” she said.

“It had a big, level, lawn with a pool, a good aspect, and it was in a really good location.

“The bulk of the interest was from families with primary school aged kids, and some downsizers.

“The buyers were a family from central Auckland.”