Find out the top auction results
Ray White New Zealand has reported a significant surge in auction activity last week, with 310 properties going under the hammer, marking a 101.3% increase compared to the same period last year.
The auctions boasted a solid 44.7% clearance rate, up 12.7% year-on-year, highlighting a robust market performance.
Increased bidder activity and auction success
The auctions saw an average of 2.1 registered bidders and 1.7 active bidders per auction, with 67.5% of Ray White auctions receiving active bidding. This competitive environment has proven beneficial for vendors, with properties sold at auction fetching sale prices 10.5% higher than the highest pre-auction offer.
Top auction results
The highest auction sale of the week was achieved by Ray White Remuera agent Steve Koerber, who sold 21 Woodley Avenue, Remuera, for $3.25 million. The property attracted two registered bidders, culminating in a successful sale under the hammer. The purchase was made by a family relocating from Wellington, while the sellers were moving to a newly built home north of Auckland.
Koerber commented on the market’s current state, noting the anticipation of a bumper month in March as high-value listings begin to surface.
A standout auction at 62 Conway Street, Somerfield, attracted 13 registered bidders and five active bidders, selling for $923,000. Ray White Town and Lifestyle marketing agents Mariessa Waddington and Nicola Millar facilitated the sale to a young first-home-buying couple.
The Ray White Bayfair, Greerton, Mount, Papamoa, Pukehina, and Tauranga group sold more than $10m in property during their Wednesday auction event.
A total of 11 properties were sold during the auction campaign, with three additional properties under contract prior to the auction. The event’s top sale was 67a Pitau Road, Mt Maunganui, Tauranga City, which fetched $2.55m under the hammer.
Get the hottest and freshest mortgage news delivered right into your inbox. Subscribe now to our FREE daily newsletter.
