Auction Report 5 July 2021
The first week in a new month brought a continuation of very active bidding for properties within our auction portfolios. Our 5 July Auction Portfolio and our 24th Auction Portfolio for 2021, once again, attracted positive buyer response which continues to demonstrate confidence particularly in the quality properties we market within our Eastern Beaches area.
Again, it was our pleasure to welcome a pleasing attendance to 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 what is selling and for what price to give an idea of what is happening very currently in the real estate market.
The portfolio included quality properties across our residential areas of Pakuranga, Half Moon Bay, Bucklands Beach, Howick, Northpark, Farm Cove, Botany Downs. Somerville, Dannemora but also properties outside of our Eastern Beaches area in Mt Wellington and Otara.
As highlighted in my recent reports, it was so pleasing to see vendors achieving sale results that allowed them to move on to enjoy their current requirements and buyers delighted to have the opportunity to buy quality properties. People taking a positive attitude, not waiting for life to pass them by or waiting to wait.
As also noted in previous weeks reports 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.
Highlights throughout the evening:
Two other properties attracted bidding interest but not to a price level that met vendors expectation of price. We continue to work with buyer interest for these and the remaining properties within the portfolio to secure a sale that is satisfactory to our vendors.
So, after three weeks of marketing, extremely pleasing, positive, competitive bidding, for the seven properties sold under the hammer, but also, 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 excellent 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