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  • Writer's pictureReal Estate Today - New Zealand

Auctions Not Cooling Down as We Head into Winter

The last week of autumn saw Ray White New Zealand schedule 174 properties to go under the hammer, up 27.9 per cent compared to the same period last year, with a clearance rate of 48.8 per cent. 

The group recorded an average of 1.6 registered bidders and 1.4 active bidders per auction, with 72.3 per cent of auctions conducted receiving active bidding. 

Auctions continue to provide the best outcomes for sellers, with properties sold under the hammer receiving premiums an average of 10.8 per cent higher than the highest offer prior. 

The top result for the week went to Ray White Remuera agents Steve and Nila Koerber who sold 14 Entrican Avenue, Remuera, Auckland City under the hammer for $6.05 million. 

“The vendors were selling in order to expand their business overseas,” Mr Koerber said. 

“The buyers were a young couple, soon to be married, who are excited to start a family and enjoy many years in their gorgeous new home.” 

The auction with the highest number of registered bidders was at Ray White Manurewa agents Phoung Nguyen (pictured above right with buyers) and Florence Tran’s auction at 91 Etherton Drive Weymouth, Manukau City which recorded 14 registered bidders and 14 active bidders. 

The property sold for $700,000. 

“The majority were traders who wanted to renovate the property and there was one first home buyer who landed the winning bid,” Ms Nguyen said.

“The sellers were long term investors for many years, and sold to buy something else. 

“It was in really poor condition but had a good land size of 600sqm. It had some good potential which attracted a lot of people.” 


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