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The week saw a 55.7 per cent clearance rate, up 11.57 per cent year-on-year, with an average of 2.5 registered bidders and 2.0 active bidders per auction.

“Ray White’s auction portfolio continued to perform with strength and consistency last week with 148 auctions scheduled across the country. A clearance rate of 55.7 per cent underscored the growing prominence of auctions as a preferred method of sale in the current market landscape,” Ray White New Zealand head auctioneer Sam Steele said.

“Robust engagement from motivated buyers saw the average number of registered bidders rise to 2.5 per auction, a strong indicator of the competitive energy driving successful results.

“As listing volumes begin to stabilise, more sellers are turning to auction, drawn by the opportunity to engage a broader pool of unconditional buyers.

“In Auckland, anticipation surrounding the release of new CVs was adding a layer of intrigue, with results last week indicating this will have a positive reaction in the market.

“Auctions also continued to outperform private treaty sales in speed to market, with an average of just 33.5 days on market compared to 49 — a decisive advantage in today’s environment.

“With auctions now accounting for 30.6 per cent of all Ray White listings nationwide, there is clear and growing confidence in the transparency and results that auction campaigns deliver.”

The top results for the week went to Ray White Mt Eden agents Rachel Berry and Ella Langsford who sold 360A Point Chevalier Road, Point Chevalier, Auckland City, under the hammer for $2.825 million. With Ray White auctioneer John Bowring on the gavel, the auction recorded two registered bidders and two active bidders.

“It was a single-level low maintenance location and size,” Ms Berry said.

“The vendor was the builder who built the house. It had been their home for 30 years and has been an emotional move but they are looking forward to being closer to family.

“The winning bid went to a family with older kids.”

The auction with the highest number of bidders went to Ray White Parnell agent Shobit Mehta who recorded nine registered bidders and six active bidders at his 449 Ellerslie-Panmure Highway, Mount Wellington, Auckland City, auction. With Mr Steele on the gavel, the property sold under the hammer for $1.016 million.

“The declared reserve was set at a very enticing level, $1 million below the CV,” Mr Mehta said.

“Interest was mostly from investors and renovators. Although many first home buyers enquired, ultimately it was not suitable property for first home buyers.

“I believe buyers were attracted by the very enticing declared reserve price. At the end of the day, the property needed a lot of work, so I think the possibility of securing the home at a very competitive price was the key driving factor.

“The buyer was a landbanker with plans to potentially develop the site, or simply to just hold on.”

Ray White City Realty Group delivered another successful day of auction activity on Thursday at the Auckland Central Auction Room, where a diverse portfolio of five properties attracted robust engagement from active buyers.

The auction lineup showcased a wide range of opportunities - from a one-bedroom leasehold apartment in the Scene 3 complex with a declared reserve of just $9,999, to a premium two-bedroom residence in the newly completed Proxima development in Eden Terrace.

A total of 15 registered bidders participated, placing 117 bids across the five properties. By the close of the session, four out of five properties were sold under the hammer, representing a strong 80 per cent clearance rate and continued momentum in the Auckland auction market.

“This result reflects growing buyer confidence and the effectiveness of our auction process in delivering competitive outcomes,” Cameron Brain, Director of Sales and Auctions for Ray White City Realty Group, said.

“Congratulations to our vendors, purchasers, and the sales team on a great day in the room.”

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