Auctions continue to provide top results for sellers

Buyers were out in force this week, with Ray White New Zealand recording 2.5 registered bidders and two active bidders per auction.

The network recorded an all sold clearance rate of 52.2 per cent, up 4.5 per cent on the same time last year.

Ray White New Zealand lead auctioneer Sam Steele said weekly auction numbers were continuing to climb as market forces showed stabilisation and confidence.

“Ray White New Zealand conducted 83 auctions with a success rate more than 50 per cent and an average of 2.6 registered bidders per property, showing a 10 per cent increase on the same period last year,” Mr Steele said.

“Auction continues to outperform other methods of sale with an average days on market for auction sitting at 30, while private treaty is almost double at 56.5, further highlighting that time on market is just as essential when selecting a method of sale. With a changing market the ability to secure a sale quickly is just as relevant as the success rate.

“Almost a third of all properties brought to the market last week by Ray White went to auction, with this figure remaining steady at 30.4 per cent.

“Comments of increased activity from agents, especially first home buyers, compliments the markets desire to transact with transparency at auction.”

The top sale of the week was 22 Onewa Road, Northcote Point, North Shore City, which sold under the hammer for $1.755 million, a great result for the seller and Ray White Glenfield listing agent Joey Dang.

The property recorded eight registered bidders and five active bidders.

Mr Dang said the vendor was really happy with the result.

“The sellers had received a job offer in Wellington so they are relocating,” he said.

“The winning bid went to a young family who used to live in the area, but they moved to Wellington, and now they’re moving back.

“It’s really close to a local school and close to the motorway. The underbidder was a pilot so he needed to go to the airport.

“There is a flat section at the back so families with children love the space for them to run around.”