A clearance rate of 41.30 per cent highlighted increased stock levels and the choice many buyers now have in the market , while an average of 1.7 registered bidders per auction confirmed this .
A notable trend was the preference for the auction sale method , which commanded more than a third of all listings across the country with 36.60 per cent share of newly listed properties . This was particularly evident in major centres , like Auckland , where more than half of all sellers opted for auctions across all asset classes .
Auctions consistently outperformed other sales methods throughout the month . The average time on the market in April was just 33 days , compared to 43 days for private treaty sales . This reflects the importance of selecting the right sales approach in today ’ s fast-paced marketplace .
Our sales teams noted an improved sentiment among cautious yet engaged buyers , alongside an influx of fresh inventory .
The transparent and competitive nature of auctions continues to be highly valued , leading to positive outcomes and bolstering consumer confidence .
Ray White New Zealand ’ s strategic alignment with prevailing market sentiments positions it as a steadfast advocate for auctions as the preferred sales method , fostering increased engagement and confidence among buyers and sellers alike as we transition into traditional seasonal market patterns .
BIDDING BY MONTH This chart illustrates the number of registered bidders and active bidders per auction for March 2024 .
Source : Ray White Online Analytics
Photo : 39 Maungakiekie Avenue , Greenlane | Proudly marketed by Dean Tuffley , Ray White Mt Eden 19