Buyer Activity on The Rise
We saw plenty of activity at Ray White auctions across New Zealand last week, seeing improvement across all auction metrics.
Ray White New Zealand scheduled 175 auctions last week, up 33.6 per cent year-on-year, with an all sold clearance rate of 60.6 per cent, up 11.1 per cent on the same time last year.
We saw a jump in the number of registered bidders, with an average of 3.8 registered bidders and 3.1 active bidders, an increase of 1.3 registered bidders compared to the 2.5 recorded the week before.
The top result of the week went to Ray White Epsom agents Richard Thode and Mark Roberts who sold 12 Rowan Road, Epsom, under the hammer for $3.018 million.
Mr Thode said the sellers (pictured below) had been in the home for 10 years after moving from Tauranga for their kids’ schooling, now they were looking to downsize.
“We were expecting three parties to register but we ended up with two but then one pulled out so we ended up with one, but that’s all you need,” he said.
“The property was sold to a family who immigrated to New Zealand and they had been to a few of my listings before. They were ready to buy.
“It was a lovely piece of land on a really nice street. It wasn’t double grammar zoned which made it a bit harder. But we got a really good result in the end.”
The auction with the highest number of registered bidders was Ray White Manukau agent Adrian Chhour’s auction at 79 Te Irirangi Drive, Clover Park, which recorded a whopping 25 registrations.
With Mr Steele calling the auction, the property sold under the hammer for $795,000.
Mr Chhour said the bidders included a mixture of investors, first home buyers, and flippers.
“The winning bid went to an investor who planned to hold the property long term,” he said. “The sellers had inherited from their mum but lived in Australia so decided to sell.
“We created urgency with our marketing throughout the campaign. “So people knew it was definitely going to sell.”