Spring kicks off with a bang

The group recorded a clearance rate of 50.4 per cent, with an average of 2.3 registered bidders and 1.7 active bidders per auction.

“Wild weather could do little to dampen Ray White’s auctions last week as increased buyer activity and fresh spring stock awakening the market,” Ray White New Zealand head auctioneer Sam Steele said.

“Auctions continue to showcase both resilience and momentum, with 152 scheduled nationwide last week achieving a clearance rate of 50.4 per cent, a clear testament to the growing preference for auctions as the premier method of sale in today’s dynamic market.

“Strong buyer demand was evident, with an average of 2.3 registered bidders per auction, reflecting the competitive energy underpinning successful outcomes.

“As listing volumes begin to stabilise, more sellers are turning to auction, recognising its unmatched ability to draw a broad pool of unconditional buyers.

“With spring underway, homeowners, agents, and mortgage brokers are preparing campaigns and purchasers to capture the seasonal lift in activity.

“Importantly, auctions remain the fastest path to sale, averaging just 38 days on market compared with 64 via private treaty, a significant advantage in the current climate.

“With auctions accounting for 39 per cent of all Ray White listings nationwide last week, confidence in their transparency, pace, and performance continues to strengthen.”

The top auction for the week went to Ray White Remuera agents Simon Siddells and Dianne Maxwell who sold 202 Gowing Drive, Meadowbank, Auckland City, under the hammer for $2.99 million.

“The property is a large six-bedroom house with a fully self-contained flat,” Ms Siddells said.

“The vendors had lived there for 13 years, with their mother, three children, and two grandchildren also residing in the home.

“They renovated the property in 2013 and then updated it further in preparation for the sale.

“The purchasers are also a family with three children, and they plan to have their mother move into the flat.”

The property with the highest number of registered bidders was at a $1 reserve auction at 3/43 Alverston Street, Waterview, Auckland City, marketed by Ray White Sandringham agents Susan Woods-Markwick and Hugh Free. The auction recorded 15 registered bidders and 10 active bidders, before selling under the hammer for $490,500.

“The property was offered with a $1 reserve so lots of buyers thought they might have a chance at securing a section in the Waterview area,” Mr Woods-Markwick said.

“Large mixture of potential buyers including developers hoping to secure and onsell upon building a property, and those wanting to build a home to live in.

“The new owner is a developer but he actually wants to build a unit for his parents to live in.

“The owner lived in his lovely two-bed brick and tile unit until he unfortunately, he had a fire that destroyed the home which had to be removed, leaving the concrete pad only.

“Selling the cross-lease section was his last hold on the property, allowing him to move on with his life.”