Ray White New Zealand scheduled 239 properties to go under the hammer last week, up 49.4 per cent on the same time last year, during the group’s September Month of More campaign.
“Rising public confidence, combined with increasing inventory levels has driven remarkable momentum for Ray White's auctions. Over the last week, we witnessed a notable surge in activity, with auction volumes steadily climbing following a series of large-scale auction events,” Ray White New Zealand head auctioneer Sam Steele said.
“Nationwide, Ray White saw 239 scheduled auctions last week, showcasing an almost 50 per cent increase in volume and a 51.5 per cent clearance rate. This reflects both the growing stock of available properties and expanded options for buyers.
“The average of 2.5 registered bidders per auction marks a significant boost in buyer engagement and, notably, auctions with four or more registered bidders saw success rates over 70 per cent.
“Choice of method of sale is a crucial factor to consider when selling and auctions continue to outperform other sales methods, with an average time on market of 25 days for auctioned properties compared to 54 days for private treaty sales. This demonstrates the importance of selecting the right sales approach in today’s competitive environment.
“Our sales teams have observed a shift in buyer sentiment, with many recognizing that the 'buyer’s market' may be nearing its end if not over already with many buyers in a hurry to secure properties. The transparency and competition inherent in auctions are increasingly valued, resulting in positive outcomes and bolstered consumer confidence.
“Ray White New Zealand's focus on auctions reinforces our position as a leader in this sales method, driving stronger engagement and confidence as we move into traditional seasonal cycles.”
The top sale for the week went to Ray White Grey Lynn agent Scott Wither who sold 49 Crummer Road, Grey Lynn, Auckland City, under the hammer for $3.225 million.
Mr Wither said the sellers were downsizers who had lived there for more than a decade.
“Buyers loved the proximity to Ponsonby, loved the north facing aspect, and the leafy green outlook.
“The vendors had immaculately maintained the property. Most buyers walked in and thought the renovation was only 1-2 years old when in fact it was 10 years.
“The property was sold to a young family who were moving into the area from Sandringham and intend to raise their kids there.”
The top result for number of registered bidders went to Ray White Papatoetoe agent Bob Lemalu who recorded 32 registered bidders and 27 active bidders at his auction at 2/73 Puhinui Road, Papatoetoe, Manukau City. With Ray White auctioneer Ted Ingram on the gavel, the property sold under the hammer for $838,000.
Mr Lemalu said due to the water damaged sustained by the home, they advertised it with a reserve of $299,000.
“The house had water damage and ongoing plumbing issues, and in May this year the pipes burst and flooded the whole house. It’s also in a flood zone and it was a cross-lease property so you couldn’t build on it,” Mr Lemalu said.
“I suggested to the vendors that we advertise a sharp reserve and it got a lot of attention. We got 71 groups through throughout the campaign and we managed to get 32 registered bidders on the day.
“We had renovators and mum and dad investor traders, but no interest from developers due to the cross-lease.
“The sellers (pictured above) had been there for 23 years before it flooded, they had purchased it off their parents. They were very happy with the result, it was super emotional for them.
“The buyer is a seasoned investor/trader/renovator who is always buying in the area.”
Ray White Hawke’s Bay had an fantastic in-room auction event on Friday where three properties went under the hammer, with two selling to a combined total of $1.305 million.
A property at 402 Murdoch Road West, Hastings sold under the hammer for $790,000 with two bidders, a great result for the vendors and listing agent Zak Marsden.
Mr Marsden also sold another property at 907 Outram Road, Hastings, for $515,000 with three registered bidders.
Ray White Hawke’s Bay managing director Elanor MacDonald said the energy in the room was electric.
“We had a fantastic 66 per cent clearance rate, with enthusiastic bidding in the room and on the phone,” she said.
“Watch this space for even more auction success.”
Ray White Bayfair agent Vanessa Wansbrough achieved an amazing auction result at 15a Boronia Place, Mount Maunganu which sold under the hammer for $1 million with five registered bidders and three active bidders.
Ms Wansborough said it was a buzzing auction.
“It was beautifully presented and renovated. The vendors did such a great job,” she said.
“I had over 61 groups through the home. There were five bidders in the room on auction day with nine groups that had conditional interest.
“Most of our interest came from first home buyers, but the winning bid went to a couple who actually weren’t buying their first home.
“The sellers are a family of four who are moving over to Australia to be closer to family.”
