Auctions reign supreme for Ray White Ponsonby and Remuera

AUCTION success has very much become the ‘new normal’ for powerhouse offices Ray White Ponsonby and Ray White Remuera following another night of outstanding results for their sellers.

The two offices sold more than NZ$17,000,000 worth of property under the hammer between them in a single day as the seller’s market remained in full swing across Auckland.

Ray White New Zealand COO and Auctioneer Daniel Coulson (pictured above), who called four under the hammer sales last night, said the results highlighted the continued buyer demand.

“It was yet another exceptional night under the hammer for our vendors with some terrific prices achieved and a high number of registered buyers battling it out,” Mr Coulson said.

“Buyers are really embracing the stability and safety of bricks and mortar, and as a seller or someone considering coming to the market, there’s never been a better time than now.”

The biggest sale of the day for the Ponsonby office belonged to Salespeople Angela Saunders and Pamela Grant as they sold Freeman Bay’s 42 Wood Street (above) for NZ$3,725,000.

“The campaign was incredibly active with 99 visits to the property and 68 groups through. We also had a number of repeat visits – with some visiting the home five times,” Ms Saunders said.

“The market just continues to get hotter and hotter. With low interest rates and demand very much outstripping the supply, it’s the perfect recipe for people to be listing and selling now.

“The buyers were already living in the street and the under-bidder lived close by too – we also had a buyer from Wellington who bid hard – this highlights the demand for Auckland homes.”

Ray White New Zealand Lead Auctioneer John Bowring, who achieved a hat-trick of under the hammer sales (pictured above calling the auctions), said the number of people bidding on properties was more than he had ever seen.

“It seems that every single property we have that goes through a well-run auction campaign attracts multiple buyers with many of them actively competing,” Mr Bowring said.

“Even while adhering to the current restrictions in Auckland, you can still really feel the energy reverberating around the room as buyers go above and beyond to secure their properties.

“There has never been a better time to sell than the market we’re in now. Auction as a method of sale is particularly appealing because of the unconditional nature of the sale.”

One of the standouts for the Remuera office came courtesy of Salespeople Matt Gibson and Lauren Andreoli as they sold 174 Meadowbank Road (above) in Meadowbank for NZ$2,935,000.

“We had over 75 groups through during the campaign, with several revisits, and that translated into six registered bidders on the night - and a premium price for our vendors,” Mr Gibson said.

“Properties across all price points are still booming with demand stronger than it has ever been – buyers aren’t even mentioning COVID-19 or the lockdowns in relation to property anymore.

“With interest rates so low and buyers unable to travel abroad, they’re investing their money into a new home or upsizing, and some are even able to move up into the next price bracket.”