89.1 % Some 89.1 per cent of all auction campaigns had active bidding on the day .
86 %
N E W Z E A L A N D clearance rate
Auctions over the past week have continued to see strong engagement from the deep pool of active buyers in the market , as was seen on Sunday evening , with what are likely to be the most widely-publicized real estate auctions in the country , on The Block NZ , with all four of the properties offered selling for significantly above their reserve figures .
The move to an online auction format has proven to be very successful in replicating the competitive nature of in person auctions .
The urgency that purchasers are showing in their desire to secure property has also been clear , with almost 20 per cent of properties scheduled to go to auction over the last seven days , being sold prior to auction .
Selling a property by auction continues to rise in popularity by sellers wary of underpricing their home , allowing buyers to pay market value for a home in a competitive , transparent forum .
D A N I E L C O U L S O N
Ray White New Zealand Chief Operating Officer