The group saw a 45.7 per cent clearance rate, up 45.7 per cent on last year, with an average of 2.3 registered bidders and 1.8 active bidders per auction.
“Ray White's auctions continued to demonstrate remarkable strength and momentum last week, with an incredible158 auctions conducted across the country, showcasing a significant 33.9 per cent increase,” Ray White New Zealand head auctioneer Sam Steele said.
“Committed participation yielded strong outcomes, averaging 2.3 registered bidders per auction, highlighting the power of open, competitive bidding in driving successful outcomes.
“While stock levels have begun to stabilise, this shift has encouraged more homeowners to choose the auction pathway, effectively drawing in a greater pool of unconditional buyers.
“Once again, auctions proved superior in terms of time on market, with an average of just 30.5 days compared to 51 days for private treaty sales.
“Confidence is clearly building, with 35.3 per cent of all Ray White listings nationally year to date as auctions.”
The top result for the week went to Ray White Ponsonby agents Jacqueline McGearty and Simon Siddells who sold 142 St Andrews Road, Epsom, under the hammer for $5.9 million. With Ray White auctioneer John Bowring on the gavel, the auction recorded two registered bidders.
Ms McGearty said the property received a lot of interest, with 60 groups through the open homes throughout the campaign.
“The buyers were a couple of surgeons. They had been to seven auctions previously and missed out, so it was great to see them secure something,” she said.
“The underbidders were a family of overseas investors.
“The vendors (pictured above) were very pleased with the result. They bought the property 15 years ago when there was a little 1950s bungalow. They then had this home architecturally designed and it was completed in 2012.
“They raised their family there and decided it was now time to downsize.”
The auction with the highest number of registered bidders went to Ray White Manukau agent Denise Wong who recorded 15 registered bidders at her 198 Browns Road, Manurewa, auction. With Ray White New Zealand head auctioneer Sam Steele calling the auction, the property sold under the hammer for $820,000.
“It was sold ‘as ism where is’, we didn't sugar coat it,” Ms Wong said.
“We made sure all the paperwork was available so buyers could make an informed decision.
“After 51 years in the home, the owners were downsizing and going to a retirement village, so it needed to be sold.
“People love something they can add value to. We had a lot of mum-and-dad DIY teams, renovators/flippers, and a couple of subdividers.
“After 104 bids, it went to an investor/landbanker who has future plans to subdivide the property.”
