Auctions not cooling down as we head into winter

The last week of autumn saw Ray White New Zealand schedule 174 properties to go under the hammer, up 27.9 per cent compared to the same period last year, with a clearance rate of 48.8 per cent.

The group recorded an average of 1.6 registered bidders and 1.4 active bidders per auction, with 72.3 per cent of auctions conducted receiving active bidding.

Auctions continue to provide the best outcomes for sellers, with properties sold under the hammer receiving premiums an average of 10.8 per cent higher than the highest offer prior.

The top result for the week went to Ray White Remuera agents Steve and Nila Koerber who sold 14 Entrican Avenue, Remuera, Auckland City under the hammer for $6.05 million.

“The vendors were selling in order to expand their business overseas,” Mr Koerber said.

“The buyers were a young couple, soon to be married, who are excited to start a family and enjoy many years in their gorgeous new home.”