The group saw steady competition with an average of 2.4 registered bidders, and 2.1 active bidders per auction.
“Ray White’s auction portfolio continued to demonstrate strength and consistency last week, with 140 auctions scheduled across the country. A clearance rate of 51 per cent further highlighted the rising preference for auctions as a leading method of sale in today’s market,” Ray White head auctioneer Sam Steele said.
“Strong engagement from motivated buyers drove the average number of registered bidders to 2.4 per auction, a compelling reflection of the competitive energy underpinning recent results with multiple campaigns reporting double digit registrations.
“As listing volumes begin to stabilise, increasing numbers of sellers are turning to auction, drawn by the opportunity to connect with a wider pool of unconditional buyers.
“In Auckland, anticipation around the release of new capital valuations is adding an extra layer of intrigue, with early indications suggesting a positive impact on market sentiment.
“Auctions also continued to outperform private treaty sales in terms of speed to market, averaging just 36.5 days on market compared to 51.5 days, a clear strategic advantage in the current environment.
“With auctions now comprising 31.9 per cent of all Ray White listings nationwide, confidence in the transparency and performance of auction campaigns continues to build across the network.”
The top sale for the week went to Ray White Mt Albert’s Anne Duncan and Emma Duncan who sold 8 Allendale Road, Mount Albert, Auckland City, under the hammer for $3.7 million. The auction recorded three registered bidders and three active bidders.
“It had been in the sellers’ family since 1991, so it was the first time on the market in 34 years,” Emma Duncan said.
“In Mt Albert there’s very few homes like this available, so they are very tightly held.
“We had mainly families interested who already lived in the area. The winning bid went to a local family.
“The location is incredible and it's a very prestigious home with a pool and multiple living spaces. It was built in the 1910s so it also had plenty of character.”
The auction with the highest number of registered bidders went to Ray White Manukau agent Rubal Singh who recorded 17 registered and 15 active bidders at his 2/20 Ihaka Place, Papatoetoe, Manukau City, auction. With Mr Steele on the gavel, the property sold under the hammer for $592,500.
“It was a really spacious two bedroom, one bathroom with lots of space at the front and back, so there was lots of opportunity to add value.
“It had been owner occupied for more than 10 years, so the home was quite dated but still very liveable.
“We had property traders looking to renovate and sell, investors, and we also had home owners.
“The winning bid went to a first home buyer.”
