“With the OCR remaining unchanged the market has continued its stable period throughout the quieter winter and school holiday timeframe,” Ray White New Zealand head auctioneer Sam Steele said.
“Strong interest from motivated buyers saw the average number of registered bidders rise to 2.0 per auction — a clear reflection of the competitive energy fueling successful outcomes.
“With listing volumes beginning to stabilise, more sellers are gravitating towards auction, drawn by its ability to engage a wider pool of unconditional buyers.
“In Auckland, the recent release of new capital values is adding an extra dimension to the marketplace, with early signs pointing to a potential uplift in buyer activity.
“Auctions also continue to prove the fastest route to market, with an average of just 33.5 days to sell - significantly ahead of the 51-day average for private treaty sales.
“Last week, auctions accounted for 39.9 per cent of all Ray White listings nationwide - a testament to the growing confidence in their transparency, pace, and performance.”
The top result for the week went to Ray White Epsom agent Richard Thode who sold 178 Upland Road, Remuera, under the hammer for $2.2 million. With Ray White auctioneer Ben East on the gavel, the property recorded two registered bidders.
“The sellers were a lovely family with two children and one on the way. They are upgrading to a larger house,” Mr Thode said.
“They had owned the property for several years and upgraded the home with a new kitchen, new bathrooms, and fully landscaped the outside.
“The buyers were a Kiwi couple currently living overseas and returning to New Zealand at the end of the year. They believed now was a very good time to buy.
“It’s a beautifully presented home, new kitchen, bathrooms, good indoor/outdoor flow to private and landscaped grounds.
“It’s in a great location down a drive and easy walk to Benson Rd shops, cafes and restaurants.
“It’s in good school zones with the double grammar zone and also being very close to St Kentigern school.
“The home also enjoyed a share of a swimming pool which was a very unique feature.”
The auction with the highest number of registered bidders went to Ray White Green Bay agent Craig Darroch’s who recorded 18 registered bidders and eight active bidders at his 27 La Rosa Street, Green Bay, auction. The property sold under the hammer for $1.44 million.
“The home was the vendor's family home for the last 25 years, and 15 years ago they did a major renovation which doubled its size,” Mr Darroch said.
“It has a huge lounge, was immaculately presented, and has fantastic school zoning.
“Most of our interest was from buyers with expanding families looking to upsize.
“A young family who live 100m down the road landed the winning bid. They are upsizing.”
