“Properties sold at auction averaged just 27 days on the market, compared to 51 days for private treaty sales.
“More than a third of all properties listed by Ray White last week were auctioned, accounting for 37 per cent of the total nationwide listings. Thirty five offices across the country listed more than 50 per cent of their properties for auction.
“Nationwide, auction success metrics continue to rise, fueling optimism and anticipation as stock levels increase and buyer interest is renewed.”
Ray White Orakei’s John Campbell and Jane Horgan had a stellar week with their auctions at 27B Upland Rd, Remuera and 157A Long Dr, St Heliers resulting in the top two auction results for the group in New Zealand last week.
The four bedroom 27B Upland Rd, Remuera property sold for $3.040 million to an owner occupier. The auction attracted two registered bidders after a solid campaign that saw families, upsizers and even some downsizers go through the home
The next day, Mr Campbell and Ms Horgan sold 157A Long Dr, St Heliers for $2.12 million in front of an audience of six registered bidders, four of which actively participated in the bidding. The Ray White Orakei directors and sales agents saw a range of people throughout the campaign.
“It was quite busy and we had everyone from upsizers, to downsizers, and first home buyers who had the support of their parents,” Mr Campbell said.
“It sold well in excess of the vendor’s expectations so there were some tears of joy.
“The big draw cards of the house were the location, it was beautifully maintained, and it had undergone some renovations to open it up. It was on the corner side, elevated and had views from both levels.
“We’re seeing more optimism in the market but time will tell if that feeds through to prices. But we are seeing more people through opens and more registered bidders, there’s a clear seasonal shift and a typical spring surge.”
A Ray White Manurewa auction held the top spot by number of bidders. No. 8 Brightwell St, Papakura sold through agents James Boyd and Warren Tibbotts for $770,000, with 13 registered bidders attending the auction, six actively bid. Mr Boyd said most of the interested buyers were renovators.
“Ninety per cent of buyers were renovators who were looking to add value and then keep the property as a long term rental, we only had one family home buyer through,” he said.
“It was popular due to it being a prime brick and tile renovation project with owners having been there for more than 50 years and it being on a road frontage large piece of land.”
Media contacts
Sam Steele
Head auctioneer
Ray White New Zealand
+64 27 864 3254
ssteele@raywhite.com
Shannon Cook
Ray White Group
Senior media advisor
+61 43 759 3050
media@raywhite.com
