Head auctioneer Sam Steele said that Ray White's auctions continued to showcase exceptional strength and momentum last week.
“A success rate of 49 per cent further showcased auctions dominance in the current market. Strong engagement from committed buyers resulted with an average of 3.3 registered bidders per auction saw a notable jump, underscoring the effectiveness of open, competitive bidding in achieving successful outcomes,” Mr Steele said.
“As stock levels begin to stabilise, this shift has prompted more homeowners to embrace the auction method, attracting a broader pool of unconditional buyers.
“Once again, auctions outperformed in terms of time on market, averaging just 41 days compared to 52 days for private treaty sales.
“Market confidence is clearly rising, with auctions accounting for 32.7 per cent of all Ray White listings nationally,” Mr Steele said.
Thirty-seven properties went under the hammer at Ray White Manukau, Manurewa, Mangere and Mangere Bridge’s The Day 9.0 auction event, totalling more than $25.6 million in sales.
With 26 properties selling under the hammer, The Day saw 206 registered bidders, with an average of 5.6 bidders per auction.
“The Day 9.0 proved that when you combine process, preparation, and the right people, exceptional outcomes follow,” the business’ director Tom Rawson said.
“A 70 per clearance rate and over $25 million in sales - this is what happens when buyers compete and sellers back the auction process.
“Across South and Central Auckland, our Manukau, Mangere, Manurewa, and Mangere Bridge teams delivered a yellow wave of results, proving that it’s not just the market that dictates success, but the people and the process you choose."
Ray White Manukau, Manurewa, Mangere and Mangere Bridge CEO Adam Thomson said The Day was a huge success.
“While clearance rates in other parts of the industry are hovering around 30 to 40 per cent, our team’s 70 per cent success rate demonstrates not just a return of buyer confidence - but the power of a well-executed auction strategy,” he said.
“These results highlight the turning tide in the market. Prices are rising, buyers are competing, and sellers who act now are getting ahead of the traditional spring surge.”
The top result for the day went to Ray White Manukau agents Sonam Sidhu and Kartik Ohari who sold 9 View Road, Papakura, under the hammer for $2.325 million. With seven registered bidders, the property recorded 20 bids over 14 minutes.
The auction with the highest number of bidders was for 9 Provost Street, Ponsonby, recording 21 registered bidders and 39 bids over just eight minutes. Marketed by Charlie Brothers and Liam Brothers, the property sold under the hammer for $1.625 million.
Marketed by Ash Singh, 26 Fenton Street, Papatoetoe attracted 14 bidders that produced 99 bids, resulting in a $1.175 million sale under the hammer, leaving the vendors elated.
Ray White Manukau sales manager Richie Lewis said the energy in the room was electric.
“With nearly 1,000 bids placed and some properties receiving over 20 registered bidders, it’s clear that buyer demand is alive and well.”
