Strong, consistent results at Ray White auctions

Ray White New Zealand’s auctions are still showing signs of strength, with a clearance rate of 50.5 per cent last week, up 12.23 per cent year-on-year. 

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 WhiteNew 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 Whiteauctioneer 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.” 

Ray White Auckland Central achieved a 100 per cent clearance rate at this week’s auction event, marking another strong result for the city’s apartment investment market. 

Five properties featured in the order of sale, with a clear emphasis on investment opportunities across central Auckland.

The line-up included three leasehold apartments in the sought-after Viaduct precinct—two studio units in the Latitude 37 complex, and a two-bedroom apartment in The Quays. 

Also on offer was a studio apartment in the Tower Hill development on Emily Place, and a two-bedroom apartment in the Volt complex at 430 Queen Street.

The event commenced with a strong sale in The Quays, marketed by Gabriela Galateanu. The property sold under the hammer after a pre-auction offer sparked competitive bidding, with three parties driving the final sale price $31,500 above the pre-auction level.

Chris Cairns achieved a strong result for the Tower Hill studio, with four active bidders creating a competitive environment. 

Gabriela Galateanu and Andrew Bond also saw solid engagement for their Latitude 37 studio apartments, attracting overlapping buyer interest.

The Volt apartment, marketed by Judi and Michelle Yurak, was passed in at auction but sold later that day through skilful post-auction negotiation.

In total, the auction event attracted nine registered bidders, who placed 58 bids across the five properties, generating a combined sales value of $843,000, with an average sale price of $168,700.

“These results are a clear indicator of renewed confidence and activity in Auckland’s investment apartment market,” Cameron Brain, Lead Auctioneer and Director of Sales for Ray White City Realty Group, said. 

“Buyers are recognising genuine value and are moving decisively on quality opportunities.”