86.6 % Some 86.6 per cent of all auction campaigns had active bidding in 2021
N E W Z E A L A N D clearance rate
As we edge closer to signing off from 2021 , we reflect on what a year it has been through various alert levels , online auctions , and the implementation of the Covid Protection Framework or ‘ The Traffic Light System ’ - all of which have created their own unique but immensely rewarding challenges in the world of real estate .
The success of the online auction platform was a testament to our sales peoples ' adaptability but also the trust our sellers had in our ability to move online and still secure a successful outcome .
This year saw the Ray White New Zealand schedule 9,570 auctions with 7,197 of these going ahead to auction day . It ' s no surprise 18.6 per cent of auctions were sold prior which was underpinned by the strength of the market . Participation rates also remained robust with average registered bidders at 4.0 and average active bidders at 3.3 . Every metric Ray White tracks saw a positive increase on the previous year , closing out the year with an 80 per cent clearance rate across every property we auctioned this year .
There is no question the real estate market is seeing an increase in stock as we close out 2021 , which may present a different landscape when it comes to selling in 2022 . Predicting what pricing may do remains difficult , which is why experts are saying auction will continue to be a mainstay of the real estate market as it allows buyers and sellers to take advantage of the transparency it provides parties on both sides of the transaction .