Auctions Preferred Method of Sale for Spring

Ray White New Zealand scheduled 128 properties to go under the hammer last week, with a clearance rate of 51.7 per cent. 

The group saw an average of 2.2 registered bidders and 1.5 active bidders per auction. 

“Ray White’s auctions continue their impressive results recorded across both major centres and regional New Zealand,” Ray White New Zealand head of auctions Sam Steele said. 

“Last week saw 128 scheduled auctions achieve a clearance rate of 51.7 per cent, underscoring the enduring strength of auctions as the preferred method of sale in today’s dynamic market.

“Buyer demand remained strong, with an average of 2.2 registered bidders per auction, with numerous campaigns reporting double digit buyer registrations. Highlighting the competitive energy that continues to drive outstanding outcomes.

“As listing volumes begin to stabilise, more sellers are turning to auction, recognising its ability to attract a wide pool of unconditional buyers. Already, homeowners, agents, and mortgage brokers are preparing campaigns and purchasers to capture the momentum of the season.

“Auctions also remain the fastest route to sale, averaging just 37.5 days on market compared with 60 via private treaty,  a decisive advantage in the current climate.

“With auctions representing 34.9 per cent of all Ray White listings nationwide last week, confidence in their transparency, efficiency, and performance is clearly gathering pace.” 

The top result for the week went to Ray White Mt Eden agent Susie Calderwood who sold 6 Milton Road, Mount Eden, under the hammer for $2.53 million.

With Ray White auctioneer John Bowring on the gavel, the auction saw four registered bidders, with all four actively bidding.

“6 Milton Toad was a really busy campaign with over 90 groups through. I had 4 registered bidders at auction who all participated and my vendors were really happy when the hammer came down,” Ms Calderwood said. 

“The vendors had owned the property for around 16 years and it has been the family home. The kids are now in their 20s and have left home. 

“The vendors have been living in Melbourne for the past three years and have had it tenanted. Now they are back they want a smaller property they can lock and leave as they spend a lot of time at their beach house.” 

The auction with the highest number of registered bidders went to Ray White Manukau agent Fatima Ali who recorded 12 registered bidders and nine active bidders at her 29 Glen Avenue, Papatoetoe, auction. 

Ms Ali was marketing the property on behalf of comedian and mental health advocate Mike King and his wife Joanna. 

With Mr Steele calling the auction, the four-bedroom home sold under the hammer for $1.5 million. 

“Nine of the bidders were developers and investors, and there were three home buyers,” Ali said. 

“It was a 862sqm block in one of the best streets in Papatoetoe, which is why it attracted so many developers. 

“A developer landed the winning bid and the under bidder was a home buyer.” 

Ms Ali said the sellers were overwhelmed with the result. 

“The vendors were in happy tears,” she said.

“They lived there for more than 10 years but they decided to sell in order to have a bit of a treechange with some more privacy, and get out of the hustle and bustle.”