Strong, consistent results at Ray White auctions

The group scheduled 146 properties to go under the hammer last week, with an average of 2.7 registered bidders and 2.1 active bidders per auction.

“Ray White’s auction portfolio continued to deliver strong and consistent results last week, with 146 auctions scheduled nationwide. A clearance rate of 50.5 per cent reinforced the rising preference for auctions as a leading method of sale in today’s evolving market,” Ray White New Zealand head auctioneer Sam Steele said.

“Strong interest from committed buyers lifted the average number of registered bidders to 3.8 per auction - a clear reflection of the competitive momentum underpinning many successful outcomes.

“As listing volumes begin to stabilise, a growing number of sellers are turning to auction, attracted by the ability to engage a wider pool of unconditional buyers. In Auckland, anticipation around the release of new CVs is adding a layer of intrigue, with recent results suggesting this may positively influence buyer activity.

“Auctions also continue to lead the way in speed to market, averaging just 37 days compared to 52 days for private treaty - a meaningful advantage in today’s market conditions.

“With auctions now representing 32.2 per cent of all Ray White listings nationwide, confidence in the transparency, pace, and performance of auction campaigns is clearly accelerating.”

The top result for the week went to Ray White Mt Eden agent Robyn Ellson who sold 20 Croydon Road, Mount Eden, Auckland, under the hammer for $2.782 million. With Ray White auctioneer John Bowring on the gavel, the property recorded four registered bidders and two active bidders.

“The seller was downsizing after six years in the home, they'd loved the location to get their girls through Epsom Girls Grammar,” Ms Ellson said.

“They bought the home in 2019 for $1.796 million and undertook a cosmetic renovation updating the kitchen, flow to outdoor entertaining and a general revamp of the interiors keeping the style charming and relaxed and very family friendly.

“The best aspects were the large north-facing garden, schools and, while the home was beautifully presented, there was still opportunity for the buyers to make their own mark with this home in years to come. The backyard is screaming out for a pool.

“The buyers were a young family with four girls who are excited to move into the area into a home in the EGGs zone with lots of space.

“They had recently sold in Mt Albert so were serious househunters! They are going to love it and we're so excited for them!”

A $1 reserve auction at 7 Bank Road, Northland, Wellington, recorded the highest number of registered bidders last week, with 22 registered bidders and nine active bidders on auction day. Ray White Wellington City agent Matt Ross marketed the property which sold under the hammer for $312,000 after 45 bids.

The water-damaged home was put up for auction with a $1 reserve after previously passing in at auction

“I think people didn't know what price to expect and didn't know how motivated the vendors were,” he said.

“So we wanted to make it abundantly clear you could buy this for $1.

“Having been resigned to selling for just $1 two and a half weeks ago, the owner is certainly relieved to exceed all expectations.”