Buyers out in force at Ray White New Zealand auctions

Ray White New Zealand’s auction volumes remained high last week, even with Thursday’s ANZAC day public holiday, with the group scheduling 229 properties to go under the hammer, up 148.9 per cent on the same time last year.

Clearance rates and bidder numbers are holding steady, with Ray White New Zealand recording a 43.2 per cent clearance rate, with an average of 1.8 registered bidders per auction.

“Ray White’s recent auction events showcased resilience and momentum, featuring 140 auctions conducted nationwide in the last seven days, achieving a success rate of 43.2 per cent,” Ray White New Zealand lead auctioneer Sam Steele said.

“These figures represent a significant 79.5 per cent surge in auction activity while maintaining a consistent success rate.

“Unconditional bidders displayed unwavering commitment to their purchases, as reflected in an average of 1.8 registered bidders per auction.

“Notably, auctions with four or more registered bidders had an impressive 73 per cent or higher chance of successful sale under the hammer.

“This underscores how the transparent auction process fosters competition among buyers and enables property owners to ascertain market value confidently.

“As the market adjusts to increased listings, more homeowners are embracing auctions to identify and secure unconditional buyers, with over a third of all properties brought to the market by Ray White being auctioned, underscoring the advantages of this approach among homeowners.

“Auctions once again outpaced other sale methods in terms of time on market, with auction properties selling in an average of 22 days compared to 47.5 days for private treaty sales.”

The top result for the week went to Ray White Kohimarama agent Pauline Brown, who sold 36A Rawhitiroa Road, Kohimarama, Auckland City, under the hammer for $2.802 million. With Ray White business owner and auctioneer Wayne Maguire on the gavel, the auction recorded five registered bidders and five active bidders.

Ms Brown said the home attracted a lot of interest with 50 groups through the open homes and 12 private inspections.

“I had five registered bidders and the eventual buyer only came in after it was announced on the market. It was announced on the market at $2.705 million,” Ms Brown said.

“The buyer had a house on the market in Swanson and he and his partner intend to move in.

“Most of our interested buyers were families. There were a family from Nelson who were the underbidders.

“I sold this home to the sellers brand new 19 and a half years ago. They were moving out of Auckland to be closer to family.

“They kept the home immaculate and updated over the year, and it had beautiful gardens.”