Auction Metrics Show Signs of Improvement Ahead of Spring

Ray White New Zealand scheduled 153 properties to go under the hammer last week, up 18.6 per cent year-on-year. 

The group recorded a clearance rate of 64.3 per cent, up 9.21 per cent compared to the same time last year, with an average of 3.9 registered and 3.0 active bidders per auction. 

“With spring now just weeks away, fresh listings are beginning to emerge and buyer interest is on the rise, injecting renewed energy into the market,” Ray White New Zealand head auctioneer Sam Steele said.

“Ray White’s auction activity continues to reflect this momentum, with 153 auctions scheduled nationwide last week. 

“A clearance rate of 64.3 per cent underscores the growing preference for auction as the method of choice in today’s shifting landscape.

“Strong engagement from motivated buyers drove the average number of registered bidders to 3.9 per auction, a clear indicator of the competitive spirit underpinning recent results.

“As listing volumes begin to stabilise, more sellers are opting for auction, drawn to its ability to attract a wider pool of unconditional buyers. 

“Last week saw a significant lift in success and volume due to Ray White Manukau, Manurewa, Mangere and Mangere Bridge mega auction event, The Day, now in its 10th iteration. 

“Auctions also remain the fastest path to sale, with an average of just 32 days on market — significantly quicker than the 60-day average achieved through private treaty — offering sellers a tangible time advantage.

“Last week, auctions accounted for 32 per cent of all Ray White listings across the country, reinforcing the transparency, speed, and performance that continue to build confidence on both sides of the transaction.”

The top result for the week went to Ray White Remuera agent John Lantz who sold 4 Pukeora Avenue, Remuera, Auckland City, under the hammer for $4.015 million. With Ray Whiteauctioneer John Bowring on the gavel, the property saw 13 registered bidders, with seven fighting it out to win the auction.

“This was the first really good family home that has been on the market in this area for some time. It is on a flat 1,053sqm of land and fully fenced so great for a family with young children and there's plenty of space for the pets too,” Mr Lantz said. 

“The entire home had been completely renovated so there was nothing to do but move in. The bedrooms were all very generous in size and the home featured that beautiful character of the 1920s with high stud ceilings and leadlight windows. 

“The swimming pool had also been overhauled with a new concrete plaster, new filtration system and pump. There was nothing to spend money on here for the next 20 years.

“We had a diverse group of buyers from those with young children, couples in their thirties and forties, and also those in their sixties who were moving from the country and wanted a decent size section with really good sun and privacy as well.

“The winning couple live locally and had been looking for the past two years and missed out on other properties and weren't going to miss out again, especially for this one!”

Mr Lantz said the property had been in the seller’s family since 1975. 

“One of the owner’s sons bought the home with his wife and they moved in with their two children, but they have subsequently moved closer to Mission Bay and therefore put the home up for sale. 

“I originally met the parents when I door-knocked the house in 2004 the very first week I got my real estate license!

“It sits on one of the most beautiful, tree-lined cul de sacs streets on the northern slopes of Remuera. It is a fantastic family street and very tightly held.” 

A big contributor to the increased volume last week was Ray White Manukau, Manurewa, Mangere and Mangere Bridge’s in-room auction event The Day, which saw 46 properties go under the hammer on Wednesday. The event recorded a 60.9 per cent clearance rate. 

The Day saw the auction with the highest number of registered bidders for the week, which went to marketing agents Debbie Kingi and Pat Lapalapa who recorded 16 registered bidders and 15 active bidders at their 28 Atkinson Avenue, Papatoetoe auction. After 42 bids, the property sold under the hammer for $852,000.

Another result from The Day saw a three-bedroom home at 4 Amarillo Place, Manurewa,marketed by Daemon van Riele, sold under the hammer for $865,000 with three registered bidders and three active bidders. 

The vendors Ben and Courtney said the property was their first home. 

“We bought it about eight years ago as our family home and raised our kids there. One came home as a baby and the other  was about one year old when we bought it,” Ben said. 

“We have relocated to be closer to school for my kids and for my wife who is a teacher.”

He said Daemon’s service was amazing.

“We were kind of nervous as we’d never sold a home before, and going to the auction can be quite daunting, but Daemon gave us good advice and calmed our nerves,” Ben said. 

“We were really happy with the result.”