Real-time weekly auction data from the largest property group in Australasia 20.09.2021
86% Ray White New Zealand agents sold 86.3 per cent of all auction properties nationally last week
13% Highest offer prior versus sale price
Our internal data shows that our sellers who proceeded to take their property to sell under the hammer last week were rewarded with a sale price over 13 per cent higher than the best offer prior.
6.7 Average registered bidders
Data shows on average there were 6.7 average registered bidders per lot nationally last week. The highest number of registered bidders nationally was 36 buyers competing for 12 Cleland Crescent Blockhouse Bay, Auckland City.
92% Some 92 per cent of all auction campaigns had active bidding on the day
86% NEW ZEALAND clearance rate
As New Zealand remains split across two alert levels, Auckland continues in Level 4 while the rest of the country trades in level 2 restrictions. We continue to see high degrees of success over the last seven days right across the country. The success resonating from Ray White auctions comes from different platforms, with virtual auctions still remaining a staple part of Auckland agents business and the remainder of the country with in-room and on-site auctions occurring under the government’s guidelines.
This no doubt demonstrates the share depth of the buyer pool who are still seeing interest rates remaining low, allowing purchasers’ buying capacity to remain high, along with the demand outweighing the supply. The market’s stock levels are consistently being eroded away. This is underpinned by the influx of buyers coming to the market with the message to homeowners that now is the best time to sell with the lack of competition and the pent up demand. With summer not too far away, we historically see a increase in properties coming to the market.
All metrics that Ray White measures are showing positive results for the method of sale when compared with last year, despite training in different restrictions. To still be operating at levels higher than these a whole year later, it really does give you plenty of confidence in how robust the market currently is. We also note an increasing percentage of properties selling prior to their scheduled auction date which is driven by the concentrated pool of buyers competing for ever decreasing levels of inventory each week.