Auction Report 22 March 2021
Our 22 March portfolio, was the 8th for 2021 and once again we were able to invite and cater for a pleasing attendance at the Headsail Room of the Bucklands Beach Yacht Club, the home of Ray White Auctions. Those attending included people who had registered bidding interest, those who had expressed conditional buying interest and obviously those who came along to see the start of the new year – what is selling and for what price to give an idea of what is happening very currently in the real estate market.
The portfolio offered & included a quality 17 properties across our residential areas of Pakuranga, Half Moon Bay, Bucklands Beach , Mellons Bay, Howick, Somerville, Cockle Bay, plus properties form Papatoetoe, Otara, Glen Eden. Some properties originally scheduled for this portfolio were sold at an earlier auction date or transferred through to 29th March 2021.
Very active bidding and a high level of “under the hammer” sales resulted an extremely pleasing result. Placing properties “on the market “to sell “under the hammer” was the key factor in vendors being rewarded with further bidding and achieving the pleasing final prices.
There were many highlights throughout the evening:
Post auction negotiations started immediately with the bidding interest for both 148 Bucklands Beach Road, Bucklands Beach and 9 & 9A Sherie Place, Howick and as a result both are now sold.
Offers were also presented to vendors for the balance of the portfolio and we continue to work with buyer interest to secure a sale that is satisfactory to our vendors.
25 March 2021
After a busy Monday evening we finalised the sale of 17 Tupaki Place, Pakuranga which was brought forward from its 29 March scheduled auction date, due to an unconditional offer that was presented to our vendors and accepted subject to the property being submitted to auction. Bidding started at the preauction offer of $1,450,000 and after some strong bidding and 19 bids it sold “under the hammer” at $1,533,000.
So, after three plus weeks of marketing, in some cases a marketing period of less than three weeks, there has been extremely pleasing, positive, competitive bidding and great results for our vendors whose properties sold under the hammer. It needs to be acknowledged that the sales provided buyers with an opportunity to buy quality real estate assets knowing that while having to competitively bid/ buy to be the “winner” they were bidding/buying property that was also the first choice for a number of other buyers.
The prices achieved confirmed our ability to maximise price for our vendors, however, to achieve such results, buyer interest, working with our mortgage broker partners, bidding registrations and actual competitive bidding are the components to achieving great results.
Auction Services Manager