Auction

Results from our 8 October Auction

Our 8 October portfolio was our 37th for this year, and drew a quieter buyer response than previous weeks.

As with previous weeks, the Headsail room of the Bucklands Beach Yacht Club, home of Ray White auctions attracted people either taking part in the buying process for the properties within this auction portfolio or who came along to see what is selling and for what price to get an idea of what is happening very currently in the real estate market.

The clearance rate under the hammer was as anticipated, with the exception of two properties that for various reasons, which in this buying climate, received last minute hesitancy.

Highlights of the sales “under the hammer” included:

  • 49 Golfland Drive, Golflands – $1,100,000
  • 18 Matarangi Road, East Tamaki – $1,210,000
  • 1/4 Regia Close, Half Moon Bay – $800,000

A very pleasing result for our vendor clients who were able to sell under the hammer after three weeks of marketing, and also a great result for those buyers who were able to secure quality homes in very popular residential neighbourhoods.
Our confidence in our auction programmes remains as we continue to negotiate with the buyer interest for the remainder of the portfolio.

Some vendors are not always able to accept buyer expectations of price for various reasons, but auction marketing is a very positive way of testing the market in a defined space of time to determine if the buyers’ price will enable them to make the lifestyle or property change that they envisage.

In addition to the comments above, there are always various reasons why potential buyers cannot meet the terms of an Auction For Sale and Purchase Agreement which is a totally unconditional agreement, however we try to work with these potential buyers to attract the best conditional sale for our vendor clients.

Ken Ralph
Auction Services Manager