Results from our 22 March Auction

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 29^th 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:

• 2/16 Kayeleen Place, Howick was brought forward from its designated 29 March scheduled auction date due to an unconditional preauction offer that was accepted by the vendor subject to the property being submitted to auction at the earlier auction date. From the preauction offer of $870,000, after some 26 competitive bids, it sold “under the hammer” at $948,000.
• 79C Woodglen Road, Glen Eden was the next to sell “under the hammer “after competitive 18 bids at $819,000.
• 80B Moore Street, Howick followed, with some 6 bids ensuring that new ownership will enjoy a near new Howick Village home, selling “under the hammer “at $1,430,000.
• Amongst the highlights of the evening, 89A Bleakhouse Road, Mellons Bay deserved attention. Impressive design elements, quality, quite outstanding views – totally impressive, was my introduction to this home. It was such a pleasure to use our local knowledge to attract buying interest, over the 3 week marketing programme, to achieve a sale result for our Vendor.   This property was brought forward from its designated 29 March scheduled auction date also due to an unconditional preauction offer that was accepted by the vendor subject to the property being submitted to auction at the earlier auction date.  From the preauction offer of $4,600,000 and some 21 very competitive bids it sold “under the hammer “at $4,700,000.
• 12 Hutchinson Road, Bucklands Beach benefitted from buyer appreciation of a “pride of ownership” presentation, selling “under the hammer “after some 18 competitive bids at $1,660,000.
• 19 Mangos Place, Pakuranga sold also “under the hammer “at $1,000,000 to a buyer that had completed their buying homework and came to auction committed to buy.
• 47 Caspar Road, Papatoetoe attracted 10 bids to sell “under the hammer “at $1,420,000.
• 2/44 Jane Eyre Drive, Somerville attracted bidding interest of 7 bids to see it sell “under the hammer “at $1,145,000.
• 1 Julian Place, Otara also “under the hammer” after some 6 bids at $805,000.
• 1/70 Selwyn Road, Cockle Bay offered buyers the opportunity to buy yesteryear character and a section site with close walking distance to Howick beachfront and past the popular Shamrock Cottage restaurant to all the facilities along Picton Street Howick Village. It sold “under the hammer “after some 38 determined competitive bids at $1,175,000.
• 9 Grassways Avenue, Pakuranga attracted 22 competitive bids to sell “under the hammer “at $1,530,000 and reflected the buying interest in this part of Pakuranga where development of new modern housing is clearly evident.
• 79 Casuarina Road, Half Moon Bay also sold “under the hammer “attracting 6 bids to sell at $1,041,000.

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.

Ken Ralph

Auction Services Manager